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[3/4] Luzon Brokerage Co., Inc., vs. MB Co., Inc.

[3/4] LUZON BROKERAGE CO., INC., plaintiff-appellee, vs. MARITIME BUILDING CO., INC. and MYERS BUILDING CO., INC., defendants, MARITIME BUILDING CO., INC., defendant-appellant.

G.R. No. L-25885 | 1972-08-18

"The first question to be decided is raised in the first and second assignments of errors. The attack of nullity is centered around paragraphs 3 and 4 of the contract of sale which, as appellant contends, ordain a procedure or mode of action basically and fundamentally pactum commissorium.

The pertinent portion of paragraph 4 provides as follows:

". . . But if the said party of the second part should fail to make the payments above specified within sixty days of the date or dates stipulated in this agreement or neglect to repair any damage caused to the above described property within sixty days of formal notification of such damages by...