This case has been cited 1 times or more.
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2009-10-09 |
CARPIO MORALES, J. |
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| The Court cannot generalize the 1997 Asian financial crisis to be unforeseeable and beyond the control of a business corporation. A real estate enterprise engaged in the pre-selling of condominium units is concededly a master in projections on commodities and currency movements, as well as business risks. The fluctuating movement of the Philippine peso in the foreign exchange market is an everyday occurrence, hence, not an instance of caso fortuito.[19] Megaworld's excuse for its delay does not thus lie. | |||||