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Manila Metal vs PNB: Contract Issues by Joel G. Ayon is a document available to read on EtoBox.

This case discusses the doctrine of centralized management and whether a contract for sale was formed between Manila Metal Container Corp. and PNB. [1] PNB foreclosed on property owned by Manila Metal as collateral for loans. [2] Manila Metal attempted to repurchase the property from PNB for 1.9 million pesos but PNB demanded a higher price of 2.66 million pesos. [3] The court ruled no contract was formed as there was no meeting of the minds on price, and a corporation can only be bound by agreements made b

Author

Joel G. Ayon

Language

EN