Title
Manuel R. Dulay Enterprises, Inc. vs. Court of Appeals
Case
G.R. No. 91889
Decision Date
Aug 27, 1993
A domestic corporation's president sold property without formal board approval; subsequent mortgage, foreclosure, and legal disputes upheld the buyer's ownership, affirming corporate acts in close family corporations.

Case Digest (G.R. No. 91889)
Expanded Legal Reasoning Model

Facts:

  • Corporate background and property
    • Manuel R. Dulay Enterprises, Inc. was a close family corporation with Manuel R. Dulay (19,960 shares, president/treasurer/general manager), Virgilio E. Dulay (10 shares, vice-president), and other relatives as directors. The corporation owned the Dulay Apartment on a 689 sqm lot in Pasay City (TCT No. 17880).
    • To finance the Dulay Continental Hotel project, the corporation obtained various loans, including advances from Virgilio Dulay, who subsequently occupied and managed one apartment unit as partial compensation.
  • Sale, mortgage, and foreclosure
    • By Board Resolution No. 18 (Dec. 23, 1976), the corporation, through its president, sold the Dulay Apartment to spouses Maria Theresa and Castrense Veloso for ₱300,000 (Deed of Absolute Sale; TCT No. 23225). A separate Memorandum granted Manuel Dulay an unannotated option to repurchase for ₱200,000 until December 9, 1979.
    • Without Manuel Dulay’s knowledge, Maria Veloso mortgaged the property to Manuel A. Torres for ₱250,000 (annotated in TCT). Upon her default, the property was extrajudicially foreclosed (Apr. 5, 1978), sold to Torres, and, after the one-year redemption period lapsed, Torres consolidated ownership and obtained TCT No. 24799 (Apr. 23, 1979).
  • Proceedings below
    • Torres sought a writ of possession (LRC Case No. 1742-P), but when Virgilio Dulay intervened, the court ordered impleader of the corporation; petition was dismissed (Apr. 8, 1980).
    • Three actions ensued: (a) Civil Case No. 8198-P—Torres and Edgardo Pabalan sued for possession, rents, damages, injunction; (b) Civil Case No. 8278-P—the corporation sought cancellation of the sheriff’s sale and reconveyance; (c) Civil Case No. 2880-P—the corporation and Virgilio Dulay annulled the MTC’s ejectment decision (Civil Case No. 38-81).
    • The RTC dismissed the corporation’s and Dulay’s claims and granted relief to Torres/Pabalan. The Court of Appeals affirmed (Oct. 23, 1989) and denied reconsideration (Jan. 26, 1990). Petitioners then sought certiorari relief in the Supreme Court.

Issues:

  • Whether the sale of corporate property by the president, without a properly convened board meeting or resolution, validly bound the close corporation.
  • Whether Manuel A. Torres acquired vested ownership and a right to possession of the property despite no physical delivery before the redemption period expired.
  • Whether the corporate veil properly could be pierced to hold the corporation liable for the acts of its president.
  • Whether the Court of Appeals erred in resolving the motion for reconsideration absent the private respondents’ comment.

Ruling:

  • (Subscriber-Only)

Ratio:

  • (Subscriber-Only)

Doctrine:

  • (Subscriber-Only)

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