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Hi Im love a newbie on this site asking for legal advise.
here you go:
My siblings and I owned a property leased by Petron Corp. We issued an SPA to one of our siblings to represent us in the dealings , negotiation and collection of payments. Its a 10 yr contract which will end in the next 4 or 3 years.
Unfortunately 2 of my brothers as we are 6, created a rift on our properties. They never remitted their earnings on our other properties which we are also part owners of. In asking for a dialogue with them, they never want to cooperate and starting evading us. Petron leasing has the biggest income potential for all of us. We withheld their share on Petron rent for last year.
Fuming mad to us remaining 4 siblings, they motioned a letter of revocation of the SPA to Petron. Petron thinks and honor this as a valid and legal claim. Do we have the right to insist the validity of the SPA since the contract is still in effect and 4 of us have expressed our disagreement on the revocation of the power of attorney?
Petron on the other hand told us that in such case that one of the principals expressed their revocation it will be honored and they will be paying us individually. If that happens we will lose our claims to get the share for the tax payments from our 2 scalawag brothers, which is totally unfair.
Aren't we protected by the Civil Code of the Phil 1927 on the irrevocable SPA, since the contract is foregoing and it is a bilateral contract between Petron and us?
What protection or move can we make against the evil intention of my 2 siblings?
Thanks in advance ,
Love
here you go:
My siblings and I owned a property leased by Petron Corp. We issued an SPA to one of our siblings to represent us in the dealings , negotiation and collection of payments. Its a 10 yr contract which will end in the next 4 or 3 years.
Unfortunately 2 of my brothers as we are 6, created a rift on our properties. They never remitted their earnings on our other properties which we are also part owners of. In asking for a dialogue with them, they never want to cooperate and starting evading us. Petron leasing has the biggest income potential for all of us. We withheld their share on Petron rent for last year.
Fuming mad to us remaining 4 siblings, they motioned a letter of revocation of the SPA to Petron. Petron thinks and honor this as a valid and legal claim. Do we have the right to insist the validity of the SPA since the contract is still in effect and 4 of us have expressed our disagreement on the revocation of the power of attorney?
Petron on the other hand told us that in such case that one of the principals expressed their revocation it will be honored and they will be paying us individually. If that happens we will lose our claims to get the share for the tax payments from our 2 scalawag brothers, which is totally unfair.
Aren't we protected by the Civil Code of the Phil 1927 on the irrevocable SPA, since the contract is foregoing and it is a bilateral contract between Petron and us?
What protection or move can we make against the evil intention of my 2 siblings?
Thanks in advance ,
Love
