G.R. No. 126812 - Goldenrod, Inc. vs. Court of Appeals

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G.R. No. 126812: Goldenrod, Inc. vs. Court of Appeals

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Title Supreme Court: Goldenrod, Inc. vs. Court of Appeals

Case: G.R. No. 126812

Decision Date: Nov 24, 1998

A property sale agreement between BARRETTO REALTY and GOLDENROD collapsed due to GOLDENROD's failure to pay. GOLDENROD rescinded the contract, demanding the return of P1M earnest money. The Supreme Court ruled in GOLDENROD's favor, holding that the earnest money, forming part of the purchase price, must be returned as no forfeiture clause existed, preventing unjust enrichment.

seller

real estate

earnest money

Short 9 min

0.5x of typical case length

END