Pinoy Law Student Buddy

Security and Exchange Commission v. Hon. Laygo et al. G.R. No. 188639, September 02, 2015 Facts: Pursuant to the mandate of Securities Regulation Code, the SEC issued the New Rules on the Registration and Sale of Pre-Need Plans to govern the pre-need industry prior to the enactment of the Pre-Need Code. It required from the pre-need providers the creation of trust funds as a requirement for registration. Legacy, being a pre-need provider, complied with the trust fund requirement and entered into a trust agreement with Land Bank. In mid-2000, the industry collapsed for a range of reasons. Legacy, like the others, was unable to pay its obligations to the plan holders. This resulted in Legacy being the subject of a petition for involuntary insolvency by private respondents in their capacity as plan holders. Through its manifestation filed in the RTC, Legacy did not object to the proceedings and was declared insolvent by the RTC. The trial court also ordered Legacy to submit an i...

San Miguel Properties, Inc. v. BF Homes, Inc. G.R. No. 169343, [August 5, 2015] Facts: BF homes (BF) and San Miguel Properties Inc. (SMPI) entered three successive Deeds of Absolute Sale whereby the latter sold to the former a total of 130 Italia lots. SMPI completed payments of the 130 lots but only 110 of out of the 130 transfer of certificate of titles were delivered to SMPI. After demand which was unheeded, SMPI filed a complaint for specific performance with damages with the HLURB. In its answer, BF claims that Orendain was not authorized to enter into the Deed of Absolute Sale and that the Deeds of Absolute Sale were not notarized and were undated. Issue: Whether the Deeds of Absolute Sale are unenforceable for failure to comply with the Statute of Frauds Ruling: The Deeds are enforceable. The contracts of sale of the 130 Italia II lots between BF Homes and SMPI were reduced into writing into the three Deeds of Absolute Sale which were signed by the representatives of...

Anthony Orduña et al. v. Eduardo Fuentebella, et al. G.R. No. 176841, June 29, 2010 Facts: Gabriel, Sr. sold the subject lot to petitioner Antonita Orduňa, payable in installment, but no formal deed was executed to document the sale. The installments were paid to Gabriel, Sr. and later to Gabriel, Jr. after the former’s death. Improvements were thereafter made by petitioner. Without the knowledge of petitioners, Gabriel, Jr. sold the property to Banta, who then sold the same to the Cids and ultimately it was ceded to respondent Fuentebella. Petitioner, after being demanded by Fuentebella to vacate the disputed land, then filed a Complaint for Annulment of Sale, Title, Reconveyance with damages with a prayer to acquire ownership over the subject lot upon payment of their remaining balance. The RTC dismissed the petition because the verbal sale was unenforceable under the Statute of Frauds. The CA affirmed this ruling. Issue: Whether or not the sale of the subject lot by Gabrie...

Jose Menchavez, et al vs. Florentino Teves, Jr.,  G.R. No. 153201, January 26, 2005 Facts:  Sometime in 1986, a “Contract of Lease” was executed by Menchavez as lessor and Teves Jr. as lessee for a term of five years.  In 1988, RTC Sheriffs demolished the fishpond dikes constructed by the respondent and delivered possession of the subject property to other parties. As a result, he filed a Complaint for damages against the petitioner, alleging violation of their Contract of Lease, specifically the peaceful and adequate enjoyment of the property for the entire duration of the Contract.  The lessors had withheld from respondents the findings of the trial court in a separate case. In that case involving the same property, subject of the lease, Menchavez was ordered to remove the dikes illegally constructed and to pay damages. After the trial, the RTC ruled that the contract is a patent nullity. Respondent elevated the case to the CA. The CA disagreed with t...

First Fil-Sin Lending Corp. v. Gloria Padillo G.R. No. 160533, January 12, 2005 Facts: On July 22, 1997, respondent Padillo obtained a P500,000.00 loan from petitioner First Fil-Sin Lending Corp. On September 7, 1997, respondent obtained another P500,000.00 loan from petitioner. In sum, she has paid a total of P792,500.00 for the first loan and P775,000.00 for the second loan. On January 27, 2000, respondent filed an action for sum of money against petitioner , alleging that she only agreed to pay interest at the rates of 4.5% and 5% per annum  respectively, for the two loans, and not 4.5% and 5% per month. Respondent sought to recover the amounts she allegedly paid in excess of actual obligations. Ruling: The petition is impressed with merit. The loan obligations provide for per annum interest rates. Reformation cannot be resorted to as the documents have not been assailed on the ground of mutual mistake. When a party sues on a written contract and no attempt is ...

Myrna Ramos v. Susana Sarao G.R. No. 149756, February 11, 2005 Facts: Respondent Sarao avers that the herein Petition should have been dismissed outright, because petitioner (1) failed to show proof that she had served a copy of it to the Court of Appeals and (2) raised questions of fact that were not proper issues in a petition under Rule 45 of the Rules of Court. Issue: Whether the parties intended the contract to be a bona fide pacto de retro sale or an equitable mortgage. Ruling: In a pacto de retro , ownership of the property sold is immediately transferred to the vendee a retro , subject only to the repurchase by the vendor a retro within the stipulated period. The vendor a retro's failure to exercise the right of repurchase within the agreed time vests upon the vendee a retro , by operation of law, absolute title to the property. Such title is not impaired even if the vendee a retro fails to consolidate title under Article 1607 of the Civil Code. On the...

Doña Adela Export International, Inc. v. Trade and Investment Development Corporation (TIDCORP), and the Bank of the Philippine Islands (BPI) G.R. No. 201931, February 11, 2015 Facts: Sometime in 2006, Doña Adela Export International, Inc., (DAEI) filed a Petition for Voluntary Insolvency. RTC issued an order declaring it insolvent and staying all civil proceedings against it. Sometime in August 2011 TIDCORP and BPI as creditors of DAEI filed a Joint Motion to Approve Agreement which contained among others a waiver of confidentiality clause wherein DAEI and the members of its Board of Directors shall waive all rights to confidentiality provided under the Law on Secrecy of Bank Deposits and The General Banking Law of 2000. The RTC approved the compromise agreement between BPI and TIDCORP. DAEI filed a motion for partial reconsideration and claimed that TIDCORP and BPI‘s agreement imposes on it several obligations such as payment of expenses and taxes and waiver of confidential...