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Arra Realty and Sps Arguelles vs Guarantee Development Corp, et al

ARRA REALTY CORPORATION and SPOUSES CARLOS ARGUELLES and REMEDIOS DELA RAMA ARGUELLES, Petitioners, versus GUARANTEE DEVELOPMENT CORPORATION AND INSURANCE AGENCY and ENGR. ERLINDA PE?ALOZA, Respondents.

G.R. No. 142310 | 2004-09-20

D E C I S I O N

CALLEJO, SR., J.:

Arra Realty Corporation (ARC) was the owner of a parcel of land, located in Alvarado Street, Legaspi Village, Makati City, covered by Transfer Certificate of Title (TCT) No. 112269 issued by the Register of Deeds.[1] Through its president, Architect Carlos D. Arguelles, the ARC decided to construct a five-story building on its property and engaged the services of Engineer Erlinda Peñaloza as project and structural engineer. In the process, Peñaloza and the ARC, through Carlos Arguelles, agreed on November 18, 1982 that Peñaloza would share the purchase price of one floor of the building,...