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Ricardo C. Siverio Vs. Eufemia Almeda and Ponciano Almeda, et al.

RICARDO C. SILVERIO, Petitioner, versus EUFEMIA ALMEDA and PONCIANO ALMEDA, substituted by his legal heirs EUFEMIA ALMEDA, ELENITA CERVANTES, SUSAN ALCAZAR, LAURENCE ALMEDA, FLORECITA DATOD, ROMEL ALMEDA, MARLON ALMEDA, ALAN ALMEDA, WENILDA DIAZ and CAROLYN SANTOS, Respondents

G.R. No. 178255 | 2009-11-24

D E C I S I O N


ABAD, J.:

This case is about the need for parties to an agreement to comply with their respective obligations in good faith.

The Facts and the Case

In 1973 respondents Ponciano and Eufemia Almeda (the Almedas) sold three lots in the Meridian County of Los Angeles, California, U.S.A., to petitioner Ricardo C. Silverio (Silverio) for $200,000.00, payable in 12 monthly installments[1] plus an additional 20 percent of the net profit but not exceeding $100,000.00 should Silverio be able to sell the same and make a profit.[2] The pertinent provisions of their agreement read:

2) That the TRANSFEREE shall pay the TRANSFERORS...