G.R. No. 206327 - International Exchange Bank vs. Rudy S. Labos and Associates, Inc., Spouses Rodolfo S. Labos and Consuelo R. Labos, and Rockwell Land Corporation

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Title Supreme Court: International Exchange Bank vs. Rudy S. Labos and Associates, Inc., Spouses Rodolfo S. Labos and Consuelo R. Labos, and Rockwell Land Corporation

Case: G.R. No. 206327

Decision Date: Jul 6, 2022

IEB sued RSLAI, Spouses Labos, and Rockwell over unpaid loans secured by a condominium unit. Rockwell allowed transfer of the unit without IEB’s consent. SC ruled Rockwell not liable, citing relativity of contracts, no novation, and lack of bad faith.

contract

damages

promissory note

Very Long 33 min

1.9x of typical case length

END