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Alejandria Pineda et al., vs CA and Sps Banez

ALEJANDRIA PINEDA and SPOUSES ADEODATO DUQUE, JR., and EVANGELINE MARY JANE DUQUE, petitioners, vs. COURT OF APPEALS and SPOUSES NELSON BA?EZ and MERCEDES BA?EZ, respondents.

G.R. No. 127094 | 2002-02-06

CONTRACTS

Facts:

- The appellees and the petitioner, Pineda, executed an Agreement to Exchange Real Properties. The appellees exchanging their property at White Plains with that of the Pinedas located in California.

- At the time of the execution of the agreement, the white plains property was mortgaged with the GSIS, while the California property also had a mortgaged obligation.

- As stated in the exchange agreement, Pineda paid the appellees the total amount of $12, 000.

- Pineda and the spouses Duque executed an agreement to sell over the white plains property, whereby Pineda sold the property in the amount of P1.6M.

- Pineda paid...