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Timeshare Realty Corp. vs. Lao

TIMESHARE REALTY CORPORATION, Petitioner, versus CESAR LAO and CYNTHIA V. CORTEZ, Respondents.

G.R. No. 158941 | 2008-02-11

D E C I S I O N


AUSTRIA-MARTINEZ, J.:

Before this Court is a Petition for Review on Certiorari under Rule 45 of the Rules of Court, assailing the October 30, 2002 Resolution[1] of the Court of Appeals (CA), which denied due course to the appeal of Timeshare Realty Corporation (petitioner) from the March 25, 2002 Decision[2] of the Securities and Exchange Commission (SEC) in SEC Case No. 01-99-6199; and the July 4, 2003 CA Resolution,[3] which denied petitioner's Motion for Reconsideration.

As found by the SEC,[4] the antecedent facts are as follows:

On October 6, 1996, herein petitioner sold to Ceasar M. Lao and Cynthia V. Cortez...