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Land Settlement And Development Corporation vs. Agustin Carlos

LAND SETTLEMENT AND DEVELOPMENT CORPORATION, plaintiff-appellant, vs. AGUSTIN CARLOS, defendant-appellee. TARLAC DEVELOPMENT CORPORATION, third-party claimant.

G.R. No. L-19752 | 1968-01-29

D E C I S I O N 


CASTRO, J.: 

On October 11, 1952 the defendant Agustin Carlos purchased a caterpillar tractor from the plaintiff Land Settlement and Development Corporation (hereinafter referred to as the LASEDECO 1 ) for the sum of P9,000 under a contract of sale with chattel mortgage and surety bond (exh. A). He made an initial payment of P2,250; the balance of P6,750 was to be paid on or before November 10, 1952. He thereafter made a second payment of P1,000, but failed to pay the rest (P5,750). So on June 18, 1957 the LASEDECO filed a complaint for specific performance (civil case 32878) with the Court of First Instance of...