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Inter-Asia Investments Industries vs CA and Asia Industries

INTER-ASIA INVESTMENTS INDUSTRIES, INC., petitioner, vs. COURT OF APPEALS and ASIA INDUSTRIES, INC., respondents.

G.R. No. 125778 | 2003-06-10

D E C I S I O N

CARPIO-MORALES, J.:

The present petition for review on certiorari assails the Court of Appeals Decision[1] of January 25, 1996 and Resolution[2] of July 11, 1996.

The material facts of the case are as follows:

On September 1, 1978, Inter-Asia Industries, Inc. (petitioner), by a Stock Purchase Agreement[3] (the Agreement), sold to Asia Industries, Inc. (private respondent) for and in consideration of the sum of P19,500,000.00 all its right, title and interest in and to all the outstanding shares of stock of FARMACOR, INC. (FARMACOR).[4] The Agreement was signed by Leonides P. Gonzales and Jesus J. Vergara, presidents of...