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What is Bachrach Motor Co v. Espiritu Case Summary about?

This case involves two separate sale transactions between Bachrach Motor Co. and Espiritu for vehicles. Espiritu failed to pay the balances owed. The vehicles were mortgaged as security. The lower court ordered Espiritu to pay the amounts owed with 12% annual interest and 24% penalty. On appeal, the court ruled that adding the 24% penalty to the interest would make it usurious. It reduced the penalty to 16% of the unpaid debt in accordance with the Civil Code. The judgment was otherwise affirmed.

Author

Mirabel Vidal

Language

EN