Professional Documents
Culture Documents
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ANTONIO, J.:
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meters."
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"COMPROMISE AGREEMENT
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"GREETINGS:
By:
(Sgd.) FRANCISCO VENTURA
t/FRANCISCO VENTURA"
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"While I realize your interest in cooperating with the Court in its desire
to expedite the disposition of the case, this commitment would deprive
us of the right to appeal if we do not agree with the valuation set by the
Court. Our Board, therefore, cannot waive its rights; only when it
knows the value set by the Court on the properties can it decide
whether to abide by it or appeal therefrom. I would like to stress that,
under the law, the compromise agreement requires the express
approval of our Board of Directors to be binding on our corporation.
Such an approval, I regret to say, cannot be obtained at this time."
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recorded sales around the area from P20.00 to P25.00 per square meter
and there were subdivision lots which command even higher prices.
"The properties are reported to consist of mineral land which are
rocky and barren containing limestone and shale. From the viewpoint
of the owners their property which is described as rocky and barren
mineral land must necessarily command a higher price, and this Court
believes that the plaintiff will adopt the same attitude from the
viewpoint of its business.
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3 Ibid.
4 Home Insurance Company v. United States Lines Co., et al., L-25593,
November 15, 1967, 21 SCRA 863, 866.
5 Article 2033, New Civil Code.
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9 "In order to ratify the unauthorized act of an agent and make it effectual
and obligatory upon the principal, the general rule is that the ratification must be
made by the principal with a full and complete knowledge of all the material
facts connected with the transaction to which it relates; and this rule applies, of
course, to ratification by a corporation of an unauthorized contract or other act
by its officers or agents, whether the ratification is by the stockholders or by the
directors, or by a subordinate officer having authority to ratify." (2 Fletcher,
Cyclopedia Corporations, 1049
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Petitions dismissed.
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will not provide a basis for setting aside said agreement on the
ground of mistake or error. (Periquet vs. Reyes, 21 SCRA
1503).
———oOo———
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