FRANCISCO GUTIERREZ REPIDE v. IVAR O.

AFZELIUS and his wife,

PATROCINIO R. AFZELIUS
[G.R. No. 13438. November 20, 1918. ]
Facts:
Defendants bought property from Repide on installment. When the first
installment fell due, defendants did not pay. The excuse of the defendants is
that they do not now have the money to pay the first installment. In other
words, they plead impossibility of performance.
Issue:
What is the remedy of the seller?
Held:
The rule of equity jurisprudence in such a case is that mere pecuniary
inability to fulfill an engagement does not discharge the obligation of the
contract, nor does it constitute any defense to a decree for specific
performance. The stability of commercial transactions requires that the right
of the seller be protected just as effectively as the rights of the creditor.