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Russel De Los Santos, et al. vs. Court of Appeals, et al.

RUSSEL, RIZZA, KATHERINE, LYRA, RUTH, all surnamed DE LOS SANTOS, represented by their father LEONARDO DE LOS SANTOS, Petitioners, CORONA, versus COURT OF APPEALS, PASIG REALTY AND DEVELOPMENT CORPORATION and SPOUSES JOSE RAMIREZ SAN BUENAVENTURA and JOSEPHINE REDIGA SAN BUENAVENTURA, Respondents.

G.R. No. 147912 | 2006-04-26

SECOND DIVISION

D E C I S I O N


CORONA, J.: 

On May 18, 1987, petitioners [1] entered into a contract to sell with private respondent Pasig Realty and Development Corporation for the purchase of a parcel of land in Phase I-D of Parkwood Greens Executive Village, Maybunga, Pasig. [2] Out of the total purchase price of P189,810, a down payment of P45,506.40 was required, with the balance of P144,103.60 payable over 60 months with interest at P3,898.48 per month beginning June 18, 1987. 

Upon execution of the contract, petitioners paid the down payment. On February 24, 1988, they issued ten postdated checks in the amount of P5,000...