Documente Academic
Documente Profesional
Documente Cultură
BELMONTE
Vs.
CA and SPOUSES VILLANUEVA
G.R. No. 126454
November 26, 2004
FACTS:
On June 7, 1985, the Bible Baptist Church entered into a
contract of lease with Spouses Villanueva over a
property located in Malate, Manila. The pertinent
portions of the contract are:
xxx
2. That lease shall take effect on June 7, 1985 and shall
be for a period of 15 years.
xxx
4. That upon signing of the LEASE AGREEMENT, the
Baptist Church shall pay the sum of P 84,000.00. Said
sum shall be paid directly to the Rural Bank of Bulacan
for the purpose of redemption of said property, which
was mortgaged by the Spouses.
xxx
8. That Bible Baptist has the option to buy the leased
property during the 15 years of the lease. If Baptist
Church decides to purchase the premises the terms will
be:
1. A selling price of 1.8 M;
2. A down payment agreed upon by both parties;
3. The balance may be paid at the rate of P 120T per
year.
These stipulations of the lease contract are the subject
of the present controversy for it is now the contention of
Baptist Church that the option contract is founded upon
a separate consideration that is the P 84 T paid by them
upon the signing of the lease agreement.
ISSUE:
Whether or not the option to buy given to the Baptist
Church is founded upon a consideration.
HELD:
No.
Article 1479 of the Civil Code provides:
A promise to buy and sell a determinate thing for a price
certain is reciprocally demandable.
An accepted unilateral promise to buy or to sell a
determinate thing for a price certain is binding upon the
promissor if the promise is supported by a consideration
distinct from the price.
ISSUE: