This case has been cited 1 times or more.
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2013-06-26 |
REYES, J. |
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| Even assuming, arguendo, that the petitioner was not paid, such non payment is immaterial and has no effect on the validity of the contract of sale. A contract of sale is a consensual contract and what is required is the meeting of the minds on the object and the price for its perfection and validity.[38] In this case, the contract was perfected the moment the petitioner and the respondent agreed on the object of the sale the two-hectare parcel of land, and the price Three Thousand Pesos (P3,000.00). Non-payment of the purchase price merely gave rise to a right in favor of the petitioner to either demand specific performance or rescission of the contract of sale.[39] | |||||