Bart sold a parcel of land to Vhee for P400,000.00. In the Deed of Sale, it was expressly stipulated that "at any time after the expiration of nine (9) years to be computed from August 1, 1992, the vendor, his heirs or successors-in-interest has the option and priority to purchase the land for the consideration of P400,000.00." On August 2, 2001, the heirs of Bart commenced an action against hee to compel the latter to reconvey the land to them pursuant to the contractual provisions of the afore-quoted Deed of Sale. Vhee stands squarely on the proposition that the stipulation in the
Bart sold a parcel of land to Vhee for P400,000.00. In the Deed of Sale, it was expressly stipulated that "at any time after the expiration of nine (9) years to be computed from August 1, 1992, the vendor, his heirs or successors-in-interest has the option and priority to purchase the land for the consideration of P400,000.00." On August 2, 2001, the heirs of Bart commenced an action against hee to compel the latter to reconvey the land to them pursuant to the contractual provisions of the afore-quoted Deed of Sale. Vhee stands squarely on the proposition that the stipulation in the
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Bart sold a parcel of land to Vhee for P400,000.00. In the Deed of Sale, it was expressly stipulated that "at
any time after the expiration of nine (9) years to be computed from August 1, 1992, the vendor, his heirs or
successors-in-interest has the option and priority to purchase the land for the consideration of
P400,000.00." On August 2, 2001, the heirs of Bart commenced an action against hee to compel the latter
to reconvey the land to them pursuant to the contractual provisions of the afore-quoted Deed of Sale. Vhee
stands squarely on the proposition that the stipulation in the contract giving the vendor, his heirs or
successors-in-interest the "option" to purchase the land is void and contrary to law, particularly Article
1606 of the Civil Code.
Question:
Rule on the contention of Vhee citing legal reasons.
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