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Forest Hills Golf and Country Club vs Gardpro, Inc.

FOREST HILLS GOLF AND COUNTRY CLUB, INC., PETITIONER, VS. GARDPRO, INC., RESPONDENT.

G.R. No. 164686 | 2014-10-22

FIRST DIVISION
 
D E C I S I O N
 
BERSAMIN, J.:
 
The articles of incorporation and the by-laws of a corporation define and regulate the relations between the corporation and the stockholders. In interpreting them, the literal meaning of their provisions shall control, and such provisions should be construed as a whole and not in isolation.
 
The Case
 
This appeal by the corporation seeks to overturn the ruling promulgated on September 26, 2003 by the Court of Appeals (CA) denying its appeal by petition for review, thereby affirming the adverse ruling of the Securities and Exchange Commission (SEC) regarding the refund of...