This case has been cited 2 times or more.
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2005-06-08 |
TINGA, J. |
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| Registration is not a requirement for validity of the contract as between the parties, for the effect of registration serves chiefly to bind third persons.[36] The principal purpose of registration is merely to notify other persons not parties to a contract that a transaction involving the property had been entered into. Where the party has knowledge of a prior existing interest which is unregistered at the time he acquired a right to the same land, his knowledge of that prior unregistered interest has the effect of registration as to him.[37] | |||||
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2001-08-28 |
GONZAGA-REYES, J. |
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| Respondents allege that the deed of sale was fictitious and simulated because there was no consideration for the sale. However, this assertion was controverted by vendee petitioner Eddie Fernandez' declaration, that the money he paid for the sale came from his savings as overseas contract worker in Saudi Arabia from 1982-1989 which respondents failed to controvert by presenting evidence to the contrary. The presumption that a contract has sufficient consideration cannot be overthrown by a mere assertion that it has no consideration.[17] Under Art. 1354 of the Civil Code, consideration is presumed unless the contrary is proven. | |||||