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Asia Production Co. vs. Ernani Cruz Pano

ASIA PRODUCTION CO., INC., WANG TA PENG and WINSTON WANG, petitioner, vs. HON. ERNANI CRUZ PANO, as Judge of the Court of First Instance of Rizal (Quezon City, Branch XVIII), LOLITA LEE LE HUA and ALBERTO DY, respondents.

G.R. No. 51058 | 1992-01-27

D E C I S I O N

DAVIDE, JR., J.:

The simple issue in this case is whether or not an action for the refund of partial payments of the purchase price of a building covered by an oral agreement to sell it with an oral promise to assign the contract of lease on the lot where the building is constructed is barred by the Statute of Frauds. 

Sometime in March 1976, private respondents, who claimed to be the owners of a building constructed on a lot leased from Lucio San Andres and located in Valenzuela, Bulacan, offered to sell the building to the petitioners for P170,000.00. Petitioners agreed because of private respondents' assurance that...