Civil Law, 2013 Bar — Question III-B

ESSAY

Sergio is the registered owner of a 500-square meter land. His friend, Marcelo, who has long been interested in the property, succeeded in persuading Sergio to sell it to him. On June 2, 2012, they agreed on the purchase price of P600,000 and that Sergio would give Marcelo up to June 30, 2012 within which to raise the amount. Marcelo handed P5,000 and a case of Jack Daniels Black to Sergio to seal the agreement, which Sergio accepted. On June 15, 2013, Sergio, having found another buyer offering P800,000 cash, decided to withdraw his offer to Marcelo. Marcelo objected, claiming a firm and binding agreement supported by a duly accepted valuable consideration. Can Sergio claim that whatever they might have agreed upon cannot be enforced because any agreement relating to the sale of real property must be supported by evidence in writing and they never reduced their agreement to writing? (3%)

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