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Valgosons Realty, Inc. vs. CA, et al.

VALGOSONS REALTY, INC. petitioner, vs. COURT OF APPEALS, URBAN DEVELOPMENT BANK and PRUDENTIAL BANK, respondents.

G.R. No. 126233 | 1998-09-11

D E C I S I O N


MARTINEZ, J.:

For failure of petitioner to place respondent Urban Development Bank (UDB) in possession of the leased premises, the latter sued the former for rescission of their lease contract. Petitioner, in turn, alleged that it would have delivered the leased premises had the then lessee, respondent Prudential Bank (PB), vacated the premises upon the termination of its own lease contract. For a better grasp of the case, the facts as found by the Court of Appeals are as follows.1 [Court of Appeals decision promulgated on April 3, 1996, pp. 2-9; Rollo, pp. 32-39.]

"On October 2, 1984, a lease contract was executed by...