Free Essay


In: Other Topics

Submitted By beancahementera
Words 492
Pages 2
GR. NO. 181206 OCTOBER 9, 2009

On July 7, 1995, petitioner Megaworld Globus Asia, Inc. (Megaworld) and respondent Mila S. Tanseco (Tanseco) entered into a Contract to Buy and Sell[1] a 224 square-meter (more or less) condominium unit at a pre-selling project, The Salcedo Park, located along Senator Gil Puyat Avenue, Makati City. The purchase price was P16,802,037.32, to be paid as follows: (1) 30% less the reservation fee of P100,000, or P4,940,611.19, by postdated check payable on July 14, 1995; (2)P9,241,120.50 through 30 equal monthly installments of P308,037.35 from August 14, 1995 to January 14, 1998; and (3) the balance of P2,520,305.63 on October 31, 1998, the stipulated delivery date of the unit; provided that if the construction is completed earlier, Tanseco paid all instalment due up tp January 1998 leaving unpaid balance of P 2,520,305.63 pending delivery of the unit. Megaworld, however failed to deliver the unit within the stipulated period on October 31, 1998 or April 30,1999 the last day of the six moths grace period.

A few days shy of three years later, Megaworld, by notice dated April 23, 2002 (notice of turnover), informed Tanseco that the unit was ready for inspection preparatory to delivery.[3] Tanseco replied through counsel, by letter of May 6, 2002, that in view of Megaworlds failure to deliver the unit on time, she was demanding the return ofP14,281,731.70 representing the total installment payment she had made, with interest at 12% per annum from April 30, 1999, the expiration of the six-month grace period.Tanseco pointed out that none of the excepted causes of delay existed.[4]

Whether or not there was a fortuitous event in the case at bar.

The contract to buy and sell of the parties contains recieprocal obligation to complete and deliver the condominium unit on October 31, 1998 or six months thereafter on the part of Megaworld and to pay the balance of the purchase price at or about the time of delivery on the part of Tanseco compliance by Megaworld with its obligation to pay the balance of the purchase price. Megaworld having failed to comply with its obligation under the contract it is liable thereof.
That Megaworld’s sending of a notice of turnover predeed Tanseco’s demand for refund does not abate for demand would have been useless Megaworld admittedly having failed in its obligation to deliver the unit on the agreed date.

Except in cases expressly specified by the law, or when it is otherwise declared by stipulation, or when the nature of the obligation requires the assumption of risk, no person shall be responsible for those events which could not be foreseen, or which, though foreseen, were inevitable. (1105a)…...

Similar Documents

Premium Essay

Megaworld Strama Paper

...reduced as clients and sales agents use the power of information on the web to make better choices of their properties, price listings and affordability but could face high transaction costs. Source: 10 | P a g e 3. Analysis of Present Task Environment PROPERTY / REAL ESTATE INDUSTRY Megaworld Corp. chair and CEO Andrew Tan just recently, been announced by two leading global real estate advisers have placed his property development company on top of their respective rankings. CB Richard Ellis (CBRE) Philippines named Megaworld as the country’s top residential condominium developer after launching (together with its subsidiaries, Empire East and Suntrust Properties) more than 40,000 condominium units between 2000 and 2011, a feat that enabled the company to corner 16 percent share of the market, a 4 percent lead over its closest competitor. Colliers International, came out with its study citing Megaworld as the country’s largest builder of residential condominiums in terms of units completed in 2010 and those that will be completed between 2011 and 2016. Source: The following are the major market players with industry orientation and their 2007 vs 2008 residential real estate revenues. Figure 5.2 Source: 11 | P a g e Bargaining Power of Buyers is WEAK In the real estate industry, households or......

Words: 8065 - Pages: 33

Free Essay

Blue Chips

...invest in blue chips. But remember, these stocks are ideal for long-term investments. Happy Investing! MANILA, Philippines—The local stocks index gained for a second session on Monday on selective buying of blue chips like SM Investments Corp. while more investors focused on penny stocks. The main-share Philippine Stock Exchange index added 13.5 points, or 0.25 percent, to close at 5,383.22. Across the region, sentiment was mixed ahead of the third-quarter corporate earnings reporting season. Value turnover amounted to P9.1 billion but excluding block transactions, turnover stood at P5.43 billion. There were 94 advancers versus 70 decliners while 43 stocks were unchanged. SM (+3.9 percent), URC (+2.14 percent), RLC (+2.03 percent), Megaworld (+1.71 percent), BPI (+1.22 percent) and Metrobank (+1.05 percent) led the index higher. EDC, AGI and Philex also contributed to the day’s gains. In the case of SM, tycoon Henry Sy’s conglomerate is among the beneficiaries of a consumer theme in the stock market. In a recent report, Citigroup upgraded its target price on SM from P785 to P915 per share. But most of the trades in the market were focused on penny stocks like APM (+28 percent), EG (+48.48 percent) and Greenergy (+10.53 percent). Second-liner Bloomberry (+4.55 percent), which will be the first to open an integrated gaming facility in Pagcor City, also continued to gain. APM, whose shares have sizzled in the last two weeks, was the day’s most actively traded stock. ......

Words: 766 - Pages: 4

Premium Essay

Socioeconomic Profile and Schooling Pattern of Manobo Pupil

...Jaime Zobel de Ayala Jaime Zobel de Ayala stayed focused and competitive with his businesses even though he was born from a wealthy family. He is credited for steering the Ayala Group of Companies into its fastest growth periods. They say that the 90s saw the “Golden Age of the Ayala”. He has been the Chairman Emeritus of Ayala Corporation since April 2006. Zobel de Ayala served as the Chairman of the Board of Directors of Bank of the Philippine Islands (BPI) and Chairman of the Board of Trustees of [[Ayala Foundation]]. Andrew Tan Andrew Tan is a son of a factory worker who put himself through college and worked in an appliance store. From humble beginnings, he later made his first fortune in brandy. He is also the man behind the [[Megaworld Corporation. He also owns the Alliance Global Group, Inc. which includes businesses engaged in food and beverage, real estate, and gaming. Tony Tan Caktiong The man who started his business with only two ice cream parlors, Tony Tan Caktiong became World Entrepreneur of the Year 2004 and is the current head of Jollibee Foods Corporation. Also from modest beginnings, his business has grown to become one of the most admired and respected companies in Asia. Jollibee Foods Corporation now employs 30,000 people in almost 1,000 outlets in seven countries which includes the United States and China. In the Philippines, Jollibee commands 65% of the domestic fast food market, competing very successfully against established global......

Words: 935 - Pages: 4

Premium Essay


...their major customers. Major property development companies are important to suppliers as they account for a big fraction of their total sales, with that suppliers would not have much bargaining power as they would not want to lose such major customer. Rivalry Among Competitors - High Competitors are other organizations within the same industry that provides the same goods or services (either of the same quality or better) to the same set of customers. Knowing your competitors is vital because it helps you adjust in your environment. According to BCI Asia, the top property developers in the Philippines in 2013 includes Arthaland Corporation, Ayala Land Inc., Century Properties Inc., DMCI Properties Group Inc., Filinvest Land Inc., Megaworld Corporation, Robinsons Land Corporation, Rockwell Land Corporation, SM Development Corporation, and Vista Residences Incorporated. Referring to the chart below, it is evident that the rivalry among competitors is high. The share per major developer does not vary as much as the other industries. SMDC, Ayala Land Inc. (ALI), Cityland, and DMCI’s share in the property development market were close to each other that you cannot easily compare who will really dominate the market. Porter’s Five Forces Property Development Industry SM Development Corporation Determinants of Competitive Forces I. Threat of New Entrant ● Entry Barriers ● Capital Requirement II. Threat of Substitutes ● Attractively Priced ● Comparable or Better Features......

Words: 19701 - Pages: 79

Premium Essay

Modern Portfolio Theory

...Correlation of Returns Working Example: Period Jan-08 Feb-08 Mar-08 April-08 May-08 Jun-08 Average S&P 500 Returns 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 3.50% US Small Cap Returns 3.00% 1.00% 5.00% 2.00% 6.00% 4.00% 3.50% No Correlation - 0 Variables with a Correlation of 0 0.07 0.06 0.05 Variable B 0.04 Series1 0.03 0.02 0.01 0 0 0.02 0.04 Variable A 0.06 0.08 Covariance of Returns • Working Example: There are four stocks with the following probability distributions: Rate of Return Distribution Megaworld ALI Globe 10.0% 6.0% 14.0% 10.0% 8.0% 12.0% 10.0% 10.0% 10.0% 10.0% 12.0% 8.0% 10.0% 14.0% 6.0% 10.0% 0.0% 10.0% 2.2% 10.0% 2.2% Probability of Occurrence 0.1 0.2 0.4 0.2 0.1 E(Ri) σi 1. 2. BDO 2.0% 6.0% 9.0% 15.0% 20.0% 10.4% 5.0% What is the covariance between stocks ALI and Globe? What is coefficient of correlation between stocks ALI and Globe? Covariance of Returns and Correlation • Working Example: Rate of Return Distribution Megaworld ALI Globe 10.0% 6.0% 14.0% 10.0% 8.0% 12.0% 10.0% 10.0% 10.0% 10.0% 12.0% 8.0% 10.0% 14.0% 6.0% 10.0% 10.0% 10.0% BDO 2.0% 6.0% 9.0% 15.0% 20.0% 10.4% Probability of Occurrence 0.1 0.2 0.4 0.2 0.1 E(Ri) CovALI,Globe = (6-10)(14-10)(0.1) + (8-10)(12-10)(0.2) + (10-10)(10-10)(0.4) + (12-10)(8-10)(0.2) + (14-10)(6-10)(0.1) = - 4.8 Covariance of Returns and Correlation • Working Example: ρAG = CovarianceAG σA σG = - 4.8 (2.2)(2.2) = - 0.9917 Standard Deviation of a Portfolio n n......

Words: 5071 - Pages: 21

Premium Essay

Smdc History?

... has sold more than 15,000 units in 2011 and 2012, amounting to about Php34.3 billion in sales. DMCI Homes expects to turn over about 13,493 units from 2013 to 2018. ( b.3. Megaworld Helmed by the Philippines’ third richest man, Andrew Tan’s Megaworld Corporation introduced the “live-work-play-learn” concept to Filipinos with his 18-hectare Eastwood City. This township located in Libis, Quezon City, currently houses 15 completed luxury condos, 7 ongoing residential projects, and 9 corporate buildings, which are home to around 25,000 residents and more than 100 office tenants and BPO companies. As of 2013, Megaworld has 10 more townships in various stages of development, with a combined land area of 253 hectares. ( Megaworld is the country's leading real estate developer and top business process and outsourcing (BPO) office developer and landlord in the Philippines. Led by real estate magnate and visionary, Dr. Andrew L. Tan, Megaworld pioneered the LIVE-WORK-PLAY-LEARN township concept in the country. The company introduced the successful large-scale, master-planned mixed-use developments such as Eastwood City in Libis, Quezon City; Newport City in Pasay; McKinley Hill, Forbes Town Center, McKinley West, and Uptown Bonifacio,......

Words: 1888 - Pages: 8

Premium Essay

Research Paper

...billion or 2% year-on-year to PHP 121.6 billion, with net income rose by PHP 600 million or 2% to PHP 29 billion simultaneously. COMREL is the face of PLDT’s Corporate Social Responsibility. Its long standing interaction with grass roots communities, from urban communities to the far-flung rural areas across the country, make known the thrust and services of PLDT thereby realizing the convergence of business and social responsibility. Megaworld Corporation Megaworld is the country's leading real estate developer and No. 1 business process and outsourcing (BPO) office developer and landlord in the Philippines. Led by real estate magnate and visionary, Dr. Andrew L. Tan, Megaworld pioneered the LIVE-WORK-PLAY-LEARN township concept in the country.  “Megaworld stands by on the principle that a corporation exists to serve others. We believe that we must not only do well but also do good in the community we are a part of. This belief has been our driving force to continuously give back to society through the company's socio-civic arm, the Megaworld Foundation. Last 2012, our foundation celebrated its 15th year anniversary. As a young foundation, we take pride in our humble accomplishments and contributions in the fields of education, health, environment, people empowerment, and other noble undertakings. With our corporate social responsibility efforts, we were awarded Best CSR in the 3rd Asian Excellence Awards Special of Corporate Governance Asia.”...

Words: 1380 - Pages: 6

Premium Essay

Strama Paper

...Organizational Chart – Ayala Land Incorporated [pic] |Characteristics |Ayala Land (ALI) |Megaworld |SM Development Corp. | | | | | |Key External Factors |Weight |Rating |Weighted Score | |Opportunities | |1. Household final consumption expenditure for housing, water, electricity, gas, and other fuel increased |0.08 |3 |0.24 | |to 7.2% | | | | |2. 6.8% growth in OFW remittance. |0.09 |4 |0.36 | |3. Average yearly growth rate of 20% of the BPO sector. |0.10 |4 |0.4 | |4. Nationwide expansion of the real estate business in the Philippines reaching out through Luzon,......

Words: 1476 - Pages: 6

Free Essay

Fundamental Anaylysis of Alliance Global Group

...Beverage segment manufactures and distributes distilled spirits, glass containers, potato snack products, and other consumer products. The Real Estate segment involves the investment in and development of real estate, lease of properties, hotel development and operations, and integrated tourism development. The Quick Service Restaurant segment represents the company's investment in the McDonald's brand. The company was founded on October 12, 1993 and is headquartered in Quezon City, Philippines. 2 Porter’s Five Forces of Competitive Strategy 3 The main products of Alliance Global Group are McDonalds, Emperador light, and Megaworld Corporation. McDonalds is a highly competitive fast food restaurant and has good reputation in terms of fast food service. Emperador light is a dominant product in its market and a trusted brand of the Filipinos. Megaworld Corporation has the Forbes town center that is prestigious condominium that is worth 15 billion pesos.The products offered by the Alliance Global are highly competitive but it still needs to watch the competitors around them. The Bodega San Bruno is now owned by Emperador light Inc. This means that cost of making the products of Emperador will be less than before. It was acquired last 2013 and it is the largest and oldest wine and liquor conglomerates in Spain that cost 5.8 Billion pesos. The supplier for McDonalds serves the fresh picked vegetables and raw meat. There is this report that McDonald PH was......

Words: 1575 - Pages: 7

Premium Essay

Anti-Divorce Law in the Philippines

...continuously have a robust during 2015. CRBE Philippines also doesn't see any sign of slowdown in the real estate business until 2016 mainly because a lot of companies are expanding. Despite of the increases in rental rates across all business districts, good news still remains that investors are willing to pay for the quality and value that they can get in the Philippines. Since Real Estate business is one of the most emerging industries in the country, many firms compete in this field. The top three real estate companies in the Philippines are Ayala Land, Inc., SM Prime Holdings, Inc. and Megaworld Corporation. C, R Megaworld Corporation was founded by Andrew Tan and incorporated under Philippine law on August 24, 1989. It is a subsidiary of Alliance Global Group, Inc. and it has a market capitalization of 134.8 billion pesos. It has a ticker symbol of MEG in the Philippine Stock Exchange. Megaworld Corporation, together with its subsidiaries, develops, markets, and leases real estate properties in the Philippines. The company’s real estate portfolio comprises residential condominium units, subdivision lots, and townhouses. It also leases office and retail spaces; manages hotel operations; and provides project design, construction, and property management services, as well as engages in cinema, business process outsourcing, educational, facilities provider, and maintenance activities. The company initially established a reputation for building high-end residential......

Words: 779 - Pages: 4

Premium Essay

Uptown Condo

...Promoter We are the representatives of MegaWorld Corporation. I am Aya Mae Aaron currently working at Megaworld Corporation with the position of Sales Manager. I graduated as a nursing student from the start but made my way to the world of sales as my first job due to lack of jobs provided to nurses in the country. At first, I started having problems selling real estate properties but with hard work and sheer determination, I made my way to the top of my chosen career and now reaping the fruit of my success. These are my assistants : Roncan Comintan , Ryan Cinense, Bryan Omar and Karl Guapo. Ryan Cinense is one of the assistant sales manager here in Global City. He previously sold 10 units of condominium in just 2months of being my assistant. Karl Guapo owned 3 units of condominium by working at here MegaWorld Corporation . Introduction Megaworld Corporation is transforming the Metro Manila landscape through a series of large-scale residential and office developments including urban centers integrating office, residential and commercial components. Apart from its core business of property development, Megaworld as a holding company is into merchandise trading as well as hotel and leisure. Megaworld continues to build upon a track record for quality and innovation centered on customer satisfaction through high-caliber projects delivered on time and backed by professional property management and after-sales services. Megaworld is also currently developing Uptown......

Words: 1444 - Pages: 6

Premium Essay


...Philippine Daily Inquirer 6:43 PM | Tuesday, December 2nd, 2014 48   More News from Doris C. Dumlao MANILA, Philippines—The local stock barometer firmed up for the third session in a row on Tuesday despite a generally sluggish regional market. The Philippine Stock Exchange index added 12.5 points or 0.17 percent to close at 7,344.23. All counters were up as investors picked up selected large-cap stocks. Despite the PSEi’s slight rise, there were more decliners (91) than advancers (83) in the broader market. Value turnover amounted to P8.9 billion. Meanwhile, the listing of tech stock Xurpas brought excitement to the market. Its share price rose by nearly 50 percent from the initial public offering price. The PSEi was led higher by Megaworld (+2.38 percent) while RLC, AP and GT Capital all rose by over 1 percent. URC, AC, BDO, SM Prime, Jollibee, EDC and AGI also contributed to the index gains. Outside of PSEi stocks, Melco Crown (+3.56 percent) was one notable gainer ahead of the opening of City of Dreams Manila while SSI and Vista Land gained over 2 percent. On the other hand, share prices of Metrobank, Bloomberry and LTG declined. Local stock brokerage DA Market Securities said that with the market now trading right under the 7,413 major resistance and all-time high, a potential piercing of this level would indicate a more bullish bias. “However, discounted market placements and thinning trading volumes within the holiday season can trigger a bias to test......

Words: 371 - Pages: 2

Premium Essay

Rho: Case Context and Analysis on Web and Bar

...| Richmonde Hotel Ortigas | | | 3/17/2016 | Case Context and Analysis on Web and BAR | | | Richmonde Hotel Ortigas CASE context on its WEB AND BAR marketing channels COMPANY BACKGROUND Operating since 1999, Prestige Hotels and Resorts, Inc. or PHRI is the inaugural plunge of Filipino-owned Megaworld Corporation into the hospitality industry. Megaworld is regarded as one of the Philippines’ leading urban developers concentrating on large-scale projects set in prime developments geared primarily to the middle and high-income markets. Richmonde Hotel Ortigas or RHO is the first property built and managed by PHRI. It opened its doors in 2000 at the heart of Pasig’s central business district, the Ortigas Center. It is a four-star hotel brand fully committed to meet the preferences of the globetrotting business executive and world-class traveler. Indulging the market to a first-rate and individually tailored style of service, RHO became prominent for its tagline, “Distinctly Richmonde, Distinctly Personal.” INDUSTRY OVERVIEW The hospitality industry is a broad category of fields within the service industry. The majority of business niches are composed of only a handful of different businesses, but this field applies to nearly any company that is focused on customer satisfaction and meeting leisurely needs rather than basic ones. One of the most defining aspects of this industry is that it focuses on customer satisfaction. While this is true of nearly...

Words: 3320 - Pages: 14

Premium Essay

Re Bubble

...currently in the works include One Castilla Place, Sorrel Residences, and Torre de Manila. Filinvest Development Corp. (FDC) From its first middle-income residential subdivision in Cebu, Filinvest’s core business of affordable and middle-income housing grew to become one of the Philippines’ most diversified real estate developer: high-rise condos, medium-rise projects, BPO buildings, shopping centers, and leisure developments. In the last quarter of 2012, the developer launched a massive promotional campaign touting the complex’s rebranding into Filinvest City. This fresh, new image follows in the heels of Filinvest’s continuing efforts to develop the most vital business district in southern Manila. 15 MegaWorld Corp. (MEG) Megaworld has pioneered the mixed-use development of real estate in the form of community townships that fuse the live-work-play concept with the demands of BPO firms. Its Eastwood City township project with residential condo towers, cyberpark, and mall has transformed Libis, Quezon City into one of the emerging business districts in the metro. Robinsons Land Corp. (RLC) Better known as the Philippines’ second largest mall operator, John Gokongwei–led Robinsons Land Corporation (RLC) is the real estate arm of JG Summit, one of the country’s largest conglomerates. RLC’s real estate business is divided into four sections: malls, residences, offices, and hotels. Rockwell Land Corp. (ROCK) 16 Established in 1995,......

Words: 4989 - Pages: 20

Premium Essay


...New McDonald’s chief left with tricky task By Alan Rappeport in New York When Jim Skinner took over as chief executive of McDonald’s almost eight yeas ago, the hamburger chain was in its darkest moment. The company’s chief executive, Jim Cantalupo, died of a heart attack after just 16 months in the job in April 2004. Seven months later his successor, Charlie Bell, resigned after being diagnosed with cancer, leaving the post to Mr Skinner, who was billed the “accidental CEO”. McDonald’s was also hit by negative publicity. The documentary Super Size Me was playing in cinemas, showing the world through film-maker Morgan Spurlock’s diet the dire effects of subsisting on McDonald’s. “Everything was going wrong for McDonald’s,” says Steve West, analyst at ITG Investment Research. “The restaurants were disgusting and the food was horrible. The best thing that happened to McDonald’s was Super Size Me.” McDonald’s announced on Wednesday that Mr Skinner would retire this summer, ending a 41-year career that he began as a trainee restaurant manager in Carpentersville, Illinois. The 67- year-old will be replaced by Don Thompson, who has been chief operating officer since 2010. Mr Skinner, an architect of the company’s “plan to win” strategy that has become a playbook for the fast-food industry, leaves with the reputation as a turnround artist and leaves his successor with the challenging task of maintaining the company’s momentum. Last year,......

Words: 751 - Pages: 4

Age of Empires: Definitive Edition (RUS|ENG) [RePack] от R.G. Механики Подробнее... Залито: 02-05-2018 15:17 (5007 просмотров) Age of Empires: Definitive Edition (RUS|ENG) [RePack] от R.G. Механики Стратегии   Игра-стратегия с богатой 20-летней историей, возвращается в Windows 10 в новом, завершенном виде. Age of Empires: Definitive Edition — это официально выпущенная игра в современном оформлении, с новыми визуальными элементами и множеством новых функций. ... Раздают: 0 Качают: 0 Размер: 6.61GB | Yo Tonya BluRay MicroHD | The Flash