FACTS:

JP Latex Technology, Inc., a domestic corporation engaged in the manufacture of latex and balloons, was sued by Balloons Granger Balloons, Inc. (Granger), a foreign corporation organized under the laws of Canada. Granger filed a complaint for rescission and damages, alleging that JP Latex failed to fulfill its obligations under a contract for the sale of machinery and non-cash considerations. Granger claimed to have made numerous demands for payment but received no response. The Regional Trial Court (RTC) rendered a decision in favor of Granger, rescinding the agreement, confirming Granger's right of ownership and possession over the machinery, and ordering JP Latex to return the machinery, cease using Granger's technology, and pay damages. Granger filed a motion for execution pending appeal, which was initially denied by the RTC but later granted upon reconsideration. JP Latex and one of its officers filed a petition for certiorari before the Court of Appeals, but it was denied. The Supreme Court issued a temporary restraining order to prevent the implementation of the writ of execution pending appeal.

ISSUES:

RULING:

PRINCIPLES:

• A motion for reconsideration is not a prerequisite before resorting to a special civil action for certiorari when the issue raised is one of lack of jurisdiction or grave abuse of discretion amounting to lack or excess of jurisdiction.