Back

Fernando Carrascoso Jr. vs. The Honorable Court of Appeals

FERNANDO CARRASCOSO, JR., Petitioner, versus THE HONORABLE COURT OF APPEALS, LAURO LEVISTE, as Director and Minority Stockholder and On Behalf of Other Stockholders of El Dorado Plantation, Inc. and EL DORADO PLANTATION, INC., represented by one of its minority stockholders, Lauro P. Leviste, Respondents.

G.R. No. 123672 | 2005-12-14

D E C I S I O N 
 
CARPIO MORALES, J.: 
 
El Dorado Plantation, Inc. (El Dorado) was the registered owner of a parcel of land (the property) with an area of approximately 1,825 hectares covered by Transfer Certificate of Title (TCT) No. T-93[1] situated in Sablayan, Occidental Mindoro. 
 
On February 15, 1972, at a special meeting of El Dorado's Board of Directors, a Resolution[2] was passed authorizing Feliciano Leviste, then President of El Dorado, to negotiate the sale of the property and sign all documents and contracts bearing thereon. 
 
On March 23, 1972, by a Deed of Sale of Real Property,[3] El...