This case has been cited 1 times or more.
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2013-06-26 |
VILLARAMA, JR., J. |
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| However, the CA reversed the CIAC's ruling that Mabunay had incurred delay which entitled petitioner to the stipulated liquidated damages and unrecouped down payment. Citing Aerospace Chemical Industries, Inc. v. Court of Appeals,[19] the appellate court said that not all requisites in order to consider the obligor or debtor in default were present in this case. It held that it is only from December 24, 2008 (completion date) that we should reckon default because the Construction Agreement provided only for delay in the completion of the project and not delay on a monthly basis using the work schedule approved by petitioner as the reference point. Hence, petitioner's termination of the contract was premature since the delay in this case was merely speculative; the obligation was not yet demandable. | |||||