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Simeon Del Rosario vs. Shell Co. of the Phils Ltd.

SIMEON DEL ROSARIO, plaintiff-appellant, vs. THE SHELL COMPANY OF THE PHILIPPINES LIMITED, defendant-appellee.

G.R. No. L-28776 | 1988-08-19

D E C I S I O N


PARAS, J.:

The antecedent relative facts of this case are as follows:

1. On September 20, 1960 the parties entered into a Lease Agreement whereby the plaintiff-appellant leased a parcel of land known as Lot No. 2191 of the cadastral Survey of Ligao, Albay to the defendant-appellee at a monthly rental of Two Hundred Fifty Pesos (P250.00).

2. Paragraph 14 of said contract of lease provides:

"14. In the event of an official devaluation or appreciation of the Philippine currency the rental specified herein shall be adjusted in accordance with the provisions of any law or decree declaring such devaluation or appreciation...