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Realty Exchange Venture Corp. vs. Lucina S. Sendino

REALTY EXCHANGE VENTURE CORPORATION AND/OR MAGDIWANG REALTY CORPORATION, petitioner, vs. LUCINA S. SENDINO and the OFFICE OF THE EXECUTIVE SECRETARY, Office of the President, Malaca?ang, Manila, respondents

G.R. No. 109703 | 1994-07-05

D E C I S I O N

KAPUNAN, J p:

Private respondent Lucina C. Sendino entered into a reservation agreement with Realty Exchange Venture, Inc. (REVI) for a 120-square meter lot in Raymondville Subdivision in Sucat, Parañaque for P307,800.00 as its purchase price. 1 She paid P1,000.00 as partial reservation fee on January 15, 1989 and completed payment of this fee on January 20, 1989 by paying P4,000.00 2 .

On July 18, 1989, private respondent paid REVI P16,600.00 as full downpayment on the purchase price. 3 However, she was advised by REVI to change her co-maker, which she agreed, asking for an extension of one month to do so.

For...