Aranas v. Tutaan Digest
Payment or Performance Aranas v Tutaan 127 SCRA 828 Facts: The stocks of Universal Textile Mills (UTEX) were issued to co-defendants Manuel and Castaneda. Subsequently, in 1971, the lower court declared that Luisa Aranas is the rightful owner of the 400 shares of stocks at Universal Textile Mills (UTEX. Further, it ordered that dividends in cash or stocks pertaining to the same be delivered to Aranas. UTEX then filed a motion to clarify the phrase in said decision which states “to deliver to her all dividends appertaining to the same, whether in cash or in stocks” meant dividends properly pertaining to the plaintiffs after the court’s declaration of her ownership. The said motion was granted, where the court ordered UTEX to pay the plaintiff the cash dividends which accrued to the stocks in question after the current decision was rendered but the cash dividends already paid to the co-defendants before the court decision may not be claimed by the plaintiffs. The co-defenda...