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San Juan Structural and Steel Fabricators, Inc. vs. Court of Appeals

SAN JUAN STRUCTURAL AND STEEL FABRICATORS, INC., petitioner, vs. COURT OF APPEALS, MOTORICH SALES CORPORATION, NENITA LEE GRUENBERG, ACL DEVELOPMENT CORP. and JNM REALTY AND DEVELOPMENT CORP., respondents.

G.R. No. 129459 | 1998-09-29

D E C I S I O N
 
PANGANIBAN, J.
 
May a corporate treasurer, by herself and without any authorization from the board of directors, validly sell a parcel of land owned by the corporation? May the veil of corporate fiction be pierced on the mere ground that almost all of the shares of stock of the corporation are owned by said treasurer and her husband?
 
The Case

These questions are answered in the negative by this Court in resolving the Petition for Review on Certiorari before us, assailing the March 18, 1997 Decision[1] of the Court of Appeals[2] in CA GR CV No. 46801 which, in turn, modified the July 18, 1994 Decision...