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All Jurisprudence based

0 tracked cards Remedial Law, Legal and Judicial Ethics, with Practical Exercises

Under Rule 130, Part B of the Rules of Court, determine whether extrinsic evidence of Schedule A is admissible to interpret the clause “The Purchase Price shall be ₱5,000,000, payable as stipulated in Schedule A” in a Deed of Sale of Shares between Omega Realty, Inc. (Seller) and Sigma Investors, Inc. (Buyer). Schedule A is not attached to the deed. A contemporaneous side letter dated 1 March 2024, signed by both parties, states the price schedule and payment terms and is not attached to the deed. Is extrinsic evidence of Schedule A admissible to interpret the clause? Choose the best answer and briefly explain.

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No. The absence of Schedule A renders the contract void for indefiniteness, and extrinsic evidence cannot cure indefiniteness. Yes. Extrinsic evidence of Schedule A is admissible to interpret the clause because Schedule A is expressly referenced and its absence leaves the price terms indeterminate; extrinsic evidence identifies the actual price schedule consistent with the parties’ contemporaneous agreement, and does not alter the contract. No. Extrinsic evidence cannot be used to interpret a clause that refers to a missing Schedule A, for this would amount to adding terms and would violate the parol evidence rule. Yes, but only to prove that Schedule A existed and was prepared contemporaneously; the court will not consider the terms of Schedule A unless the schedule is attached to the deed.

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