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Makati Sports Club, Inc. Vs. Cecile H. Cheng, et al.

MAKATI SPORTS CLUB, INC., Petitioner, versus CECILE H. CHENG, MC FOODS, INC., and RAMON SABARRE, Respondents.

G.R. No. 178523 | 2010-06-16

DECISION


NACHURA, J.:

This is a petition for review on certiorari[1] under Rule 45 of the Rules of Court, assailing the Decision[2] dated June 25, 2007 of the Court of Appeals (CA) in CA-G.R. CV No. 80631, affirming the decision[3] dated August 20, 2003 of the Regional Trial Court (RTC), Branch 138, Makati City in Civil Case No. 01-837.

The facts of the case, as narrated by the RTC and adopted by the CA, are as follows:

On October 20, 1994, plaintiff's Board of Directors adopted a resolution (Exhibit 7) authorizing the sale of 19 unissued shares at a floor price of P400,000 and P450,000 per share for Class A and B, respectively.

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