Crazy rich Ellen offered her newly acquired Ford Explorer to her friend Portia for $2,300,000.00, which...
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Crazy rich Ellen offered her newly acquired Ford Explorer to her friend Portia for $2,300,000.00, which the latter gladly accepted given the discounted price. As a gift for paying in cash, Ellen promised to give Portia the custom-fit leather car seat covers she specially ordered for the car. A Deed of Sale was entered into by the parties. As Portia was having the sale registered to transfer ownership of the car in her name, she noticed that the contract failed to state the leather seats promised. Portia filed for the reformation of the contract. Is reformation proper? Why? Why is the remedy of reformation of contracts granted by law? Ernie and Bert are best friends. They made a pact that neither will work in call centers, factories, power plants, gas stations, mining sites and airports because according to research these are among the most unhealthy jobs and job sites in the world. A penalty of $200,000 shall be paid by the party who breaches. This pact was written down and signed by both parties. After some time, Ernie received a great offer from Alorica, the largest, certified minority- owned BPO in the country today. Having been given an offer he cannot refuse, he accepted the job proposal of Alorica. Bert was angered by what Ernie did and reminded him of the contract they signed. Ernie pointed out that the contract actually failed to include "call centers" in the list, and true enough upon checking, "call centers" was not in the list. Bert seeks reformation of the contract. Is reformation proper? Why? Kiwi sold her home to Peach and asked that she have the right to repurchase the property after 1 year. Peach agreed. Unknown to Kiwi, Peach asked her friend Pear to draft the contract in a language unfamiliar to Kiwi. They did not include the right to repurchase in the contract. Before signing, Kiwi asked if the contract included the right to repurchase and Peach said yes. A year later, Kiwi wanted to repurchase her home but Peach refused, saying that she was now the absolute owner of the home. Can Kiwi ask for reformation? Why? On March 13, 2008, Ariel entered into a Deed of Absolute Sale (DAS) with Noel where the former sold his titled lot in Quezon City with an area of three hundred (300) square meters to the latter for the price of $300,000.00. The prevailing market value of the lot was P3,000.00 per square meter. On March 20, 2008, they executed another "Agreement To Buy Back/Redeem Property where Ariel was given an option to repurchase the property on or before March 20, 2010 for the same price. Ariel, however, remained in actual possession of the lot. Since Noel did not pay the taxes, Ariel paid the real property taxes to avoid a delinquency sale. On March 21, 2010, Ariel sent a letter to Noel, attaching thereto a manager's check for P300,000.00 manifesting that he is redeeming the property. Noel rejected the redemption claiming that the DAS was a true and valid sale representing the true intent of the parties. Ariel filed a suit for the nullification of the DAS or the reformation of said agreement to that of a Loan with Real Estate Mortgage. Noel however claims it is a valid sale with a right to repurchase and Ariel clearly failed to redeem the property. Is reformation proper? Why? Crazy rich Ellen offered her newly acquired Ford Explorer to her friend Portia for $2,300,000.00, which the latter gladly accepted given the discounted price. As a gift for paying in cash, Ellen promised to give Portia the custom-fit leather car seat covers she specially ordered for the car. A Deed of Sale was entered into by the parties. As Portia was having the sale registered to transfer ownership of the car in her name, she noticed that the contract failed to state the leather seats promised. Portia filed for the reformation of the contract. Is reformation proper? Why? Why is the remedy of reformation of contracts granted by law? Ernie and Bert are best friends. They made a pact that neither will work in call centers, factories, power plants, gas stations, mining sites and airports because according to research these are among the most unhealthy jobs and job sites in the world. A penalty of $200,000 shall be paid by the party who breaches. This pact was written down and signed by both parties. After some time, Ernie received a great offer from Alorica, the largest, certified minority- owned BPO in the country today. Having been given an offer he cannot refuse, he accepted the job proposal of Alorica. Bert was angered by what Ernie did and reminded him of the contract they signed. Ernie pointed out that the contract actually failed to include "call centers" in the list, and true enough upon checking, "call centers" was not in the list. Bert seeks reformation of the contract. Is reformation proper? Why? Kiwi sold her home to Peach and asked that she have the right to repurchase the property after 1 year. Peach agreed. Unknown to Kiwi, Peach asked her friend Pear to draft the contract in a language unfamiliar to Kiwi. They did not include the right to repurchase in the contract. Before signing, Kiwi asked if the contract included the right to repurchase and Peach said yes. A year later, Kiwi wanted to repurchase her home but Peach refused, saying that she was now the absolute owner of the home. Can Kiwi ask for reformation? Why? On March 13, 2008, Ariel entered into a Deed of Absolute Sale (DAS) with Noel where the former sold his titled lot in Quezon City with an area of three hundred (300) square meters to the latter for the price of $300,000.00. The prevailing market value of the lot was P3,000.00 per square meter. On March 20, 2008, they executed another "Agreement To Buy Back/Redeem Property where Ariel was given an option to repurchase the property on or before March 20, 2010 for the same price. Ariel, however, remained in actual possession of the lot. Since Noel did not pay the taxes, Ariel paid the real property taxes to avoid a delinquency sale. On March 21, 2010, Ariel sent a letter to Noel, attaching thereto a manager's check for P300,000.00 manifesting that he is redeeming the property. Noel rejected the redemption claiming that the DAS was a true and valid sale representing the true intent of the parties. Ariel filed a suit for the nullification of the DAS or the reformation of said agreement to that of a Loan with Real Estate Mortgage. Noel however claims it is a valid sale with a right to repurchase and Ariel clearly failed to redeem the property. Is reformation proper? Why?
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Answer 1 Reformation may be proper in this case Reformation of a contract is a remedy available when ... View the full answer
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