Batchelder vs. CB
Batchelder vs. CB
45
46
47
48
Ibid., p. 170.
49
49
Ibid., p. 172.
Cf. Ibid., pp. 171172. Also Brief for Respondent Central Bank, pp. 36
37,
50
50
Ibid., p. 176.
51
51
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10
Ibid., p. 177.
11
52
two persons where one binds himself, with respect to the other, to give
something or to render some service.
13
14
Ibid., p. 354.
15
16
Padilla, Civil Law, 1967 ed., 524 IV Tolentino, Civil Code Annotated, pp.
402403 (1960).
53
53
54
55
have done so, but it did not do so. How could it possibly be
maintained then that merely through the exercise of its
regulatory power to implement statutory provisions, a
contract as known to the law was thereby created? Yet that
is precisely what the lower court held in reaching such a
conclusion. It was not only unmindful of the controlling
doctrines as to when a contract exists, but it
_______________
19
20
56
Sec. 2. Ibid.
57
57
23
58
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