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Frank Liu vs Alfredo Loy Jr, Teresita Loy and Estate of Jose Vano

FRANK N. LIU, deceased, substituted by his surviving spouse Diana Liu, and children, namely: Walter, Milton, Frank, Jr., Henry and Jockson, all surnamed Liu, Rebecca Liu Shui and Pearl Liu Rodriguez, petitioners, vs. ALFREDO LOY, JR., TERESITA A. LOY and ESTATE OF JOSE VA?O, respondents.

G.R. No. 145982 | 2003-07-03

D E C I S I O N

CARPIO, J.:

The Case

This is a petition for review on certiorari of the Decision[1] dated 13 June 2000 and the Resolution dated 14 November 2002 of the Court of Appeals which affirmed the Decision[2] of the Regional Trial Court, Branch 14, Cebu City. The Court of Appeals agreed with the trial court that the sales by the late Teodoro Vaño to respondents Alfredo Loy, Jr. and Teresita A. Loy of Lot Nos. 5 and 6, respectively, were valid. The Court of Appeals also agreed with the trial court that the unilateral extrajudicial rescission by the late Teodoro Vaño of the contract to sell involving five lots,...