MANACOP VS CA
FLORANTE F. MANACOP vs. COURT OF APPEALS and E & L MERCANTILE, INC., G.R. No. 97898 August 11, 1997 Facts: Petitioner Florante F. Manacop and his wife Eulaceli purchased on March 10, 1972 a residential lot with a bungalow, in consideration of P75,000.00. On March 17, 1986, Private Respondent E & L Merchantile, Inc. filed a complaint against petitioner and F.F. Manacop Construction Co., Inc. before the Regional Trial Court of Pasig, Metro Manila to collect an indebtedness of P3,359,218.45. Instead of filing an answer, petitioner and his company entered into a compromise agreement with private respondent, the salient portion of which provides: That defendants will undertake to pay the amount of P2,000,000.00 as and when their means permit, but expeditiously as possible as their collectibles will be collected. On April 20, 1986, the trial court rendered judgment approving the aforementioned compromise agreement. It en...