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JRB Realty, Inc. vs. Court of Appeals, et al.

JRB REALTY, INC., petitioner vs. COURT OF APPEALS, SECURITIES and EXCHANGE COMMISSION, MAKATI COMMERCIAL ESTATE ASSOCIATION, INC. and AYALA LAND, INC., respondents.

G.R. No. 119043 | 1997-04-14

D E C I S I O N


BELLOSILLO, J.:

MAKATI COMMERCIAL ESTATE ASSOCIATION, INC. (MACEA), respondent herein, is an association of owners, lessees and occupants of various lots situated within the so-called Makati Central Business District (MCBD). JRB REALTY, INC., petitioner herein, as owner of two (2) lots in MCBD, is a member of the MACEA. AYALA LAND, INC. (ALI), in its capacity as successor-in-interest of Ayala Corporation in the ownership and development of said lots, is also a member of MACEA.

For every Deed of Sale concerning the lots within MCBD a Deed Restrictions was attached as an essential part of the consideration. The...