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set aside.
Note.The
constitutional
limitation
of
just
compensation is considered to be the sum equivalent to
the market value of the property, broadly described to be
the price fixed by the seller in open market in the usual
and ordinary course of legal action and competition or the
fair value of the property as between one who receives, and
one who desires to sell it, fixed at the time of the actual
taking by the government. (National Power Corporation vs.
San Pedro, 503 SCRA 333 [2006])
o0o
SEBASTIAN
SIGAAN,
VILLANUEVA, respondent.
petitioner,
vs.
ALICIA
697
_______________
7 Id., at pp. 23.
8 Id., at pp. 34.
9 Id., at pp. 45.
10Id., at pp. 150160.
702
_______________
11Id., at pp. 34.
12Id., at pp. 45.
703
704
tion, the interest shall become 12% per annum from the
finality of this Decision up to its satisfaction.
WHEREFORE, the Decision of the Court of Appeals in
CAG.R. CV No. 71814, dated 16 December 2005, is hereby
AFFIRMED with the following MODIFICATIONS: (1) the
amount of P660,000.00 as refundable amount of interest is
reduced to THREE HUNDRED THIRTY FIVE
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