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Babasa vs. Court of Appeals

SPOUSES VIVENCIO BABASA and ELENA CANTOS BABASA, petitioners, vs. COURT OF APPEALS, TABANGAO REALTY, INC., and SHELL GAS PHILIPPINES, INC., respondents.

G.R. No. 124045 | 1998-05-21

D E C I S I O N

BELLOSILLO, J:

On 11 April 1981 a contract of "Conditional Sale of Registered Lands" was executed between the spouses Vivencio and Elena Babasa as vendors and Tabangao Realty, Inc. (TABANGAO) as vendee over three (3) parcels of land, Lots Nos. 17827-A, 17827-B and 17827-C, situated in Brgy. Libjo, Batangas City. Since the certificates of title over the lots were in the name of third persons who had already executed deeds of reconveyance and disclaimer in favor of the BABASAS, it was agreed that the total purchase price of P2,121,920.00 would be paid in the following manner: P300,000.00 upon signing of the contract,...