Beruflich Dokumente
Kultur Dokumente
RULING: The contract between Bricktown and Amor Tierra was validly rescinded
because of the failure of the latter to pay the agreed amounts stipulated in the contract
on the proper date even after the sixty-days grace period. Furthermore, the records
showed that private respondent corporation paid less than the amount agreed upon.
The Supreme Court also added that such cancellation must be respected. It may also
be noteworthy to add that in a contract to sell, the non-payment of the purchase price
can prevent the obligation to convey title from acquiring any obligatory force.
On the second issue, the Supreme Court ruled that since the private respondent did not
actually possessed the property under the contract, the petitioner is then ordered to
return to private respondent the amount remitted. However, to adjudge any interest
payment by petitioners on the amount to be thus refunded, private respondent should
not be allowed to totally free itself from its own breach.