- Petitioner
- Leon Co
- Respondent
- Court of Appeals
- Citation
- G.R. No. 123908
- Court
- Supreme Court
- Division
- First Division
- Ponente
- Bellosillo, J.
- Decided
- February 9, 1998
Summary
Leon Co claimed he purchased Lot No. 7-B from Benito Ngo for P49,500.00 based on an alleged agreement during a 1979 arbitration meeting. The RTC initially ruled in Co's favor, but the Court of Appeals reversed upon reconsideration. The Supreme Court affirmed the reversal, finding no valid contract of sale existed. The Court ruled that the evidence failed to establish a meeting of minds between the parties regarding the sale, price, or payment terms. The Minutes of the arbitration meeting showed no sale agreement, and inconsistencies in testimonies, combined with Ngo's destruction of payment checks, indicated non-acceptance of Co's purchase offer. The case demonstrates the essential elements required for contract perfection under Articles 1458 and 1475 of the Civil Code.