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SUPREMECOURTREPORTSANNOTATEDVOLUME120
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FIRST DIVISION.
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p. 32, SC Rollo.
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p. 33, SC Rollo.
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SO ORDERED.
Vasquez, Relova and Gutierrez, Jr., JJ., concur.
Plana, J., is on official leave.
Notes.Contracts are respected as the law between the
contracting parties. (Castro vs. Court of Appeals, 99 SCRA
722 Escao vs. Court of Appeals, 100 SCRA 197.)
Contracts are binding in whatever form they may have
been entered into. (Lopez vs. Auditor General, 4 SCRA 42.)
The breach of contract gives the aggrieved party under
the law and even under general principles of fairness, the
right to rescind the contract or to ask for specific
performance, in either case with right to demand damages.
(Nagarmull vs. BinalbaganIsabela Sugar Co., Inc., 33
SCRA 46.)
In any sale of realty on installment, the Statute of
Frauds read together with the perfection requirements of
Article 1475 of the Civil Code must be applied such that
payment on installment of the sale must be in the requisite
note or memorandum. (Yuvienco vs. Dacuycuy, 104 SCRA
668.)
A surety cannot recover from the indemnitor where it
paid the assured not in accordance with the stipulation
undertaken by the indemnitor. (PhilippineAmerican
General Ins. Co. vs. Court of Appeals, 114 SCRA 4).
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