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Ayala Life Assurance, Inc., vs. Ray Burton Development Corporation

AYALA LIFE ASSURANCE, INC., Petitioner, vs. RAY BURTON DEVELOPMENT CORPORATION, Respondent.

G.R. No. 163075 | 2006-01-23


SECOND DIVISION

D E C I S I O N 

SANDOVAL-GUTIERREZ, J.: 

Before us for resolution is the petition for review on certiorari[1] assailing the Decision[2] dated January 21, 2004 of the Court of Appeals in CA-G.R. CV No. 74635,[3] as well as its Resolution dated April 2, 2004 denying petitioner's motion for reconsideration. 

The facts are: 

On December 22, 1995, Ayala Life Assurance, Inc., petitioner, and Ray Burton Development Corporation, respondent, entered into a contract denominated as a "Contract to Sell," with a "Side Agreement" of even date. In these contracts, petitioner agreed to sell to respondent a parcel of...