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DBP vs CA, Sps Nilo, et al

DEVELOPMENT BANK OF THE PHILIPPINES, petitioner, vs. HON. COURT OF APPEALS and SPOUSES NILO and ESPERANZA DE LA PE?A, respondents.

G.R. No. 137557 | 2000-10-30

D E C I S I O N

MENDOZA, J.:

This is a petition for review on certiorari of the decision,[1] dated August 7, 1998, and resolution,[2] dated February 11, 1999, of the Court of Appeals affirming with modification the decision of the Regional Trial Court, Branch 172, Valenzuela, enjoining petitioner from rescinding the contract it had executed covering the sale of a parcel of land and ordering respondent spouses, as vendees, to pay petitioner the amount of P54,200.00.

The facts are undisputed:

Petitioner Development Bank of the Philippines is the owner of a parcel of land in Bulacan (now Lawang Bato, Valenzuela, Metro Manila)[3] as...