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Lopez, Locsin Ledesma & Co. Vs. court of Appeals

LOPEZ, LOCSIN, LEDESMA & CO., INC., petitioner, vs. HON. COURT OF APPEALS and CMS STOCK BROKERAGE, INC., respondents.

G.R. No. L-41291 | 1988-12-08

D E C I S I O N


GUTIERREZ, J.:

This is a petition for review of the decision of the Court of Appeals, affirming except as to the portion on damages a summary judgment for specific performance promulgated by the trial court in favor of the private respondent.
On August 14 and 26, 1969 CMS Stock Brokerage, Inc. (CMS for short) sold to Lopez, Locsin, Ledesma and Co., Inc., (LLL for short) on the floor of the Makati Stock Exchange, among others, 2,650 Benguet Consolidated shares for the total price of P297,650.00 on a ten (10) to twenty (20) days delayed delivery basis. The sale is evidenced by Exchange Contracts Nos. B-11807 and B-11814...