- Petitioner
- Limketkai Sons Milling, Inc.
- Respondent
- Court of Appeals
- Citation
- G.R. No. 118509
- Court
- Supreme Court
- Division
- Third Division
- Ponente
- Francisco, J.
- Decided
- March 29, 1996
Summary
Limketkai Sons Milling Inc. sued Bank of the Philippine Islands claiming a perfected contract of sale existed for real property at P1,000 per square meter. The Supreme Court, upon reconsideration, found no contract was perfected as there was no meeting of minds between the parties. BPI had consistently rejected Limketkai's offers, and Limketkai's acceptance contained qualifications that constituted a counter-offer under Civil Code Article 1319. The case also failed to satisfy the Statute of Frauds requirements under Article 1403(2)(e) as no written agreement was signed by BPI. The Court ruled that parol evidence should not have been admitted to prove the alleged oral contract, reversing the trial court's erroneous admission of such evidence over timely objections. The decision emphasizes strict compliance with contract formation requirements and the Statute of Frauds for real property transactions.