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Makati Development Corporation vs. Empire Insurance Co., Et Al.

MAKATI DEVELOPMENT CORPORATION, plaintiff-appellant, vs. EMPIRE INSURANCE CO., defendant-appellee, RODOLFO P. ANDAL, third-party, defendant-appellee.

G.R. No. L-21780 | 1967-06-30

D E C I S I O N 


CASTRO, J.: 

On March 31, 1959, the Makati Development Corporation sold to Rodolfo P. Andal a lot, with an area of 1,589 square meters, in the Urdaneta Village, Makati, Rizal, for P55,615. 

A so-called "special condition" contained in the deed of sale provides that "[T]he VENDEE/S shall commence the construction and complete at least 50% of his/her/their/ its residence on the property within two (2) years from March 31, 1959 to the satisfaction of the VENDOR and, in the event of his/her/their/its failure to do so, the bond which the VENDEE/S has delivered to the VENDOR in the sum of P11,123.00 and evidenced by...