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Promissory Note Interest Rate Dispute by Cistron Exon is a document available to read on EtoBox.
This case involves a dispute over the interest rate on several promissory notes signed by respondents Magtanggol Eusebio and Leila Ventura in favor of petitioner Security Bank and Trust Company. The promissory notes stipulated an interest rate of 23% per annum, but the trial court imposed a 12% interest rate. The Supreme Court ruled that Central Bank Circular No. 905 allowed parties to freely set interest rates in contracts. Since the promissory notes were signed when the Circular was in effect and validly
- Author
- Cistron Exon
- Language
- EN