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Equatorial Realty Development, et al vs Mayfair Theater [DECISION]

EQUATORIAL REALTY DEVELOPMENT, INC. & CARMELO & BAUERMANN, INC., petitioners, vs. MAYFAIR THEATER, INC., respondent.

G.R. No. 106063 | 1996-11-21

D E C I S I O N

HERMOSISIMA, JR., J.:

Before us is a petition for review of the decision[1] of the Court of Appeals[2] involving questions in the resolution of which the respondent appellate court analyzed and interpreted particular provisions of our laws on contracts and sales. In its assailed decision, the respondent court reversed the trial court[3] which, in dismissing the complaint for specific performance with damages and annulment of contract,[4] found the option clause in the lease contracts entered into by private respondent Mayfair Theater, Inc. (hereafter, Mayfair) and petitioner Carmelo & Bauermann, Inc. (hereafter, Carmelo)...