Can I read Sanchez v Buenaviajie: Usury Law Ruling on EtoBox?

Sanchez v Buenaviajie: Usury Law Ruling by Celinka Chun is a document available to read on EtoBox.

What is Sanchez v Buenaviajie: Usury Law Ruling about?

Teodoro Sanchez borrowed P2,000 from Alejo Sanchez in two promissory notes with 10% monthly interest. The municipal court ordered Teodoro to pay the principal of P2,000 plus legal interest from the date of filing the complaint. Teodoro claims the loan is void due to usurious interest. The Supreme Court ruled that while usurious interest is void, the lender still has a right to recover the principal loan amount. Prior rulings established that only the usurious interest is void, not the principal. The petitio

Author

Celinka Chun

Language

EN