Cebu Winland Development Corporation v. Hua

Republic of the Philippines SUPREME COURT Manila FIRST DIVISION G.R. No. 173215 May 21, 2009 CEBU WINLAND DEVELOPMENT CORPORATION, Petitioner, vs. ONG SIAO HUA, Respondent. PUNO,CJ.: Before us is a Petition for Review1 filed under Rule 45 of the Rules of Court assailing the Decision2 dated February 14, 2006 of the Court of Appeals and its Resolution3 dated June 2, 2006 denying petitioner's motion for reconsideration of the said decision. The facts are undisputed.

Petitioner, Cebu Winland Development Corporation, is the owner and developer of a condominium project called the Cebu Winland Tower Condominium located in Juana Osmeña Extension, Cebu City. Respondent, Ong Siao Hua, is a buyer of two condominium units and four parking slots from petitioner. Sometime before January 6, 1995 while the Cebu Winland Tower Condominium was under construction, petitioner offered to sell to respondent condominium units at promotional prices.

As an added incentive, petitioner offered a 3% discount provided 30% of the purchase price is paid as down payment and the balance paid in 24 equal monthly installments. On January 6, 1995, respondent accepted the offer of petitioner and bought two condominium units designated as Unit Nos. 2405 and 2406, as well as four parking slots designated as slots 91, 99, 101 and 103 (subject properties). The area per condominium unit as indicated in petitioner's price list is 155 square meters and the price per square meter is ₱22,378.95.

The price for the parking slot is ₱240,000 each. Respondent, therefore, paid ₱2,298,655.08 as down payment and issued 24 postdated checks in the amount of ₱223,430.70 per check for the balance of the purchase price in the total amount of ₱5,362,385.19 computed as follows:4 155 sq.m./unit x 2 units x ₱22,378.95/sq.m. ₱6,937,474.50 4 parking slots at ₱240,000/slot 960,000.00