This case has been cited 2 times or more.
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2012-10-11 |
MENDOZA, J. |
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| Thus, the Court agrees with the courts below that the questioned contract of sale was only for the purpose of lending the title of the property to Spouses Intac to enable them to secure a loan. Their arrangement was only temporary and could not give rise to a valid sale. Where there is no consideration, the sale is null and void ab initio. In the case of Lequin v. Vizconde,[16] the Court wrote: There can be no doubt that the contract of sale or Kasulatan lacked the essential element of consideration. It is a well-entrenched rule that where the deed of sale states that the purchase price has been paid but in fact has never been paid, the deed of sale is null and void ab initio for lack of consideration. Moreover, Art. 1471 of the Civil Code, which provides that "if the price is simulated, the sale is void," also applies to the instant case, since the price purportedly paid as indicated in the contract of sale was simulated for no payment was actually made. | |||||
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2011-02-02 |
PERALTA, J. |
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| It is a well-entrenched rule that where the deed of sale states that the purchase price has been paid but in fact has never been paid, the deed of sale is null and void ab initio for lack of consideration. Moreover, Article 1471 of the Civil Code, provides that "if the price is simulated, the sale is void," which applies to the instant case, since the price purportedly paid as indicated in the contract of sale was simulated for no payment was actually made.[8] | |||||