About this document
Supreme Court Ruling on Loan Interest by Lara Delle is a document available to read on EtoBox.
Rolando lent Php 350,000 to L&J Development Corporation without a written agreement. L&J agreed to pay 6% monthly interest but later failed to pay due to financial difficulties. Rolando sued to collect outstanding interest, which L&J argued was unconscionable since it was not in writing. Lower courts ruled in favor of Rolando but the Court of Appeals found the interest rate invalid since it was not in writing. The Supreme Court affirmed this ruling, finding the 6% monthly interest rate to be unconscionable
- Author
- Lara Delle
- Language
- EN