Applying the above to your application, the inevitable conclusion is that you may not be able to force your neighbors through the courts to press with the sale of the property to you, if it is considered that your verbal agreement is not applicable under the law of fraud, by section 1403 of the NCC. In our new Civil Code (NCC), Section 1403 expressly provides that compliance with the status of fraud, which requires a note or memorandum proving proof of the agreement, is necessary for contracts that include, among other things, an agreement to sell real estate or any interest in it, namely: a famous example of the applicability of an oral contract was presented in the 1990s. When actress Kim Basinger resigned from her promise to star in the Jennifer Lynch movie. Boxing Helena. A jury awarded $8 million in damages to producers. Basinger appealed the decision and subsequently expected a lower amount, but not before having to go bankrupt. Dear PAO, I come from Santa Maria, Bulacan, and I own a small house and land next to the national road. I already bought this 300 square metre lot in 1985, and the title has already been transferred to my name. In 2015, my neighbour offered to sell me his land next to mine, which was also on the national road, for only millions of P3s.
As I wanted to take the opportunity, but I did not have enough resources at the time, I told him that I was ready to buy the property from him, but I need at least 18 months before I can pay because I am waiting for my lump sum pension. Then we shook hands as a gesture of our consent. In your case, it would appear that you and your neighbour did not make a note or memorandum proving your agreement, and none of you made the commitment to that agreement. In other words, your 2015 oral agreement is just a contract of execution. This clearly falls within the scope of the status of fraud, as he said in the case of Carbonnel vs. Poncio et al (GR N- L-11231, May 12, 1958), where the Supreme Court held by former justice association Roberto Concepcion, said: Dear PAO, my friend and I had an oral agreement on the renovation of his house in Manuyong City. We decided that I would cover all the costs and all the materials of the construction, so my friend will only reimburse me for the renovation costs.