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Pryce vs. Sps Octobre et al.

PRYCE PROPERTIES CORPORATION, Petitioner, vs. SPOUSES SOTERO OCTOBRE, JR. and HENRISSA A. OCTOBRE, and CHINA BANKING CORPORATION, Respondents. Present: VELASCO, JR., J., Chairperson, PERALTA, PEREZ, REYES, and JARDELEZA, JJ.

G.R. No. 186976 | 2016-12-07

Republic of the Philippines
Supreme Court 
Manila
 
THIRD DIVISION
 
DECISION
 
JARDELEZA, J.:
 
The primary question is whether a breach of contract automatically triggers the award of actual or compensatory damages. 
 
I
 
On July 22, 1997, respondent Spouses Sotero Octobre, Jr. and Henrissa A. Octobre (Spouses Octobre) signed a Reservation Agreement with petitioner Pryce Properties Corporation (Pryce) for the purchase of two lots with a total of 742 square meters located in Puerto Heights Village, Puerto Heights, Cagayan de Oro City.1 The parties subsequently executed a Contract to Sell over the lot for the...