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Distinction Between Earnest and Option Money by pulgoraymund is a document available to read on EtoBox.

The court ruled that the contract between the parties was a perfected contract to sell rather than an option contract, with the P50,000 payment being earnest money that is part of the purchase price. The petitioner was justified in suspending payment of the balance due to a vindicatory action against the property, as the lower courts misinterpreted the nature of the agreement. The assurance from the private respondents did not meet the legal requirements for guaranteeing payment amidst ongoing legal dispute

Author

pulgoraymund

Language

EN