This case has been cited 1 times or more.
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2014-09-29 |
REYES, J. |
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| The retroactive application of P.D. No. 957 to transactions entered into prior to its enactment in 1976 is already settled. In Eugenio v. Exec. Sec. Drilon,[14] which involved a land purchase agreement entered into in 1972, the Court stated that the unmistakeable intent of the legislature is to have P.D. No. 957 operate retrospectively. Moreover, the specific terms of P.D. No. 957 provide for its retroactive effect even to contracts and transactions entered into prior to its enactment. In particular, Section 21 of P.D. No. 957 provides: Sec. 21. Sales Prior to Decree. In cases of subdivision lots or condominium units sold or disposed of prior to the effectivity of this Decree, it shall be incumbent upon the owner or developer of the subdivision or condominium project to complete compliance with his or its obligations as provided in the preceding section within two years from the date of this Decree unless otherwise extended by the Authority or unless an adequate performance bond is filed in accordance with Section 6 hereof. | |||||