Trillana vs Quezon College, G. R. No. L-5003, June 27, 1953
Facts: Damasa Crisostomo subscribed 200 shares of capital stock with a par value of P100 each through a letter sent to the Board of Trustees of the Quezon College, enclosed with the letter are a sum of money as her initial payment and her assurance of full payment after she harvested fish. On October 26, 1948, Damasa Crisostomo passed away. As no payment appears to have been made on the subscription mentioned in the foregoing letter, the Quezon College, Inc. presented a claim before the CFI of Bulacan in her testate proceeding, for the collection of the sum of P20,000, representing the value of the subscription to the capital stock of the Quezon College, Inc. which was then opposed by the administrator of the estate.
Issue: Whether or not the condition entered into by both parties are valid.
Held: No, Under article 1115 of the old Civil Code which provides as follows: "If the fulfillment of the condition should depend upon the exclusive will of the debtor, the conditional obligation shall be void.”
Posted by Paula Marie Valles at 1/10/2010 09:58:00 AM
Labels: obligations and contracts
