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Loan Obligation Proven by Checks by Cristelle Elaine Collera is a document available to read on EtoBox.

What is Loan Obligation Proven by Checks about?

1. Pua lent money to spouses Benito and Caroline based on 17 post-dated checks they provided, which were later dishonored. Pua sued for collection. 2. The RTC ruled in favor of Pua, but the CA set aside the decision, finding Pua did not prove the debt existed. 3. The Supreme Court ruled that the dishonored checks were sufficient to prove the loan obligation. While checks can show indebtedness, the spouses were not required to pay compounded interest since the interest rate was not in writing.

Author

Cristelle Elaine Collera

Language

EN