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People's Industrial And Commercial Corp. vs. Court Of Appeals, et al.

PEOPLE'S INDUSTRIAL AND COMMERCIAL CORPORATION, petitioner vs. COURT OF APPEALS and MAR-ICK INVESTMENT CORPORATION, respondents.

G.R. No. 112733 | 1997-10-24

D E C I S I O N

ROMERO, J:

This petition for review on certiorari of the Decision 1 of the Court of Appeals arose from the complaint for accion publiciana de posesion over several subdivision lots that was premised on the automatic cancellation of the contracts to sell those lots.

Private respondent Mar-ick Investment Corporation is the exclusive and registered owner of Mar-ick Subdivision in Barrio Buli, Cainta, Rizal. On May 29, 1961, private respondent entered into six (6) agreements with petitioner People's Industrial and Commercial Corporation whereby it agreed to sell to petitioner six (6) subdivision lots. 2 Except for Lot No. 8...