Simple loan lawphil. SALAZAR, respondents.

Simple loan lawphil X x x. 00, the amount of ₱471,000. 15-46. at 52-60; penned by Associate Justice Ruben Reynaldo G. 145, c. . SP No. 00 representing their unpaid loan to said defendant within 30 days from the date the herein judgment becomes final and executory with 6% interest per annum compounded until full payment is made to be reckoned from February 6, 2007, otherwise, the ownership of the property covered under TCT No. Absent any evidence proving misappropriation or CONCURRING AND DISSENTING OPINION. Article 1933. A simple loan, whether the object is money or other consumable thing, may be gratuitous or onerous. PRESIDENTIAL DECREE No. 00, resulting in the complete payment of the principal loan. (WPESLAI) from December 1992 until 7 November 2001. 104796 which found Rogelio L. 106671 March 30, 2000. DEL CASTILLO, J. Court of Appeals, 210 Phil. ℒαwρhi৷. 56 The new schedule of payment did not merely On the first issue, petitioner contends that the Court of Appeals erred in ruling that because a simple loan is perfected upon the delivery of the object of the contract, the loan contract in this case was perfected only on September 13, 1982. SERENO, CJ. No. Roxas, with the concurrence of Associate Justices Romulo V. BANK OF THE PHILIPPINE ISLANDS, Respondent. Begun and held in Metro Manila, on Monday, the twenty-seventh day of July, two thousand nine. 22 See Sec. Tested on the foregoing parameters, the Second MOA is not an investment contract. Bulatao (Atty. PEOPLE OF THE PHILIPINES, RESPONDENT. 115 January 29, 1973. DRILON, in his capacity as Secretary of Justice, MANUEL J. . 43872, which set aside As the transaction involved a large amount of money, Mandy agreed to obtain a loan from the International China Bank of Commerce (ICBC). GAERLAN, J. In commodatum, the bailor retains the ownership of the thing loaned, while in simple loan, ownership passes to the borrower. 211564. PATRICIA B. SALAZAR, respondents. NLRC, we explained the simple reason for the rule in this light: The Lawphil Project The savings deposit agreement between the bank and the depositor is the contract that determines the rights and obligations of the parties as in a simple loan. none of the amounts are below ₱12,000. begun and held in metro manila, on monday, the twenty-fifth day of july, two thousand sixteen. Applying the rule on compensation, the principal loan of ₱350,000. 122230 with Metrobank; that Velayo requested that the withholding taxes be not deducted since she would take care of remitting the same to the BIR, where she knew someone who could help reduce WJA’s tax 19 Article. 42 More succinctly, in Citibank, N. MONAYAO, Respondent. SCREENEX,1 INC. 154878 March 16, 2007. 00 Philippine Currency and another from Spouses Jessie and Roselyn Cacanando also in the amount of P300,000. LOAN. WHEREAS, the utilization of trust receipts, as a convenient business device to assist importers and merchants solve their financing problems, had gained popular acceptance in international and domestic business practices, The spouses Reynaldo and Erlinda Litonjua (Litonjua spouses) contracted a loan from L & R Corporation in the sum of P400,000. August 28, 2019. 00, 30 the proceeds of the said sale should be applied to offset the remaining balance on the principal loan plus applicable interest. 32 However, the law enumerates several instances that show when a contract is presumed to be an The loan value of each lot or unit covered by the mortgage shall be determined and the buyer thereof, if any, shall be notified before the release of the loan. 2. Assailed in this petition for review on certiorari 1 are the June 19, 2002 decision 2 and August 20, 2002 resolution 3 of the Court of Appeals (CA) in CA-G. ” Through this petition for review on certiorari [1] under Rule 45 of the Rules of Court, petitioner Bank of the Philippine Islands (BPI) seeks to annul the Decision [2] dated February 28, 2011 of the Court of Appeals (CA) in CA-G. Article 1980 of the Civil Code expressly provides that “x x x savings x x x deposits of money in banks and similar institutions shall be governed by the provisions concerning simple loan. Accordingly, the right to recover interest rates arises either by virtue of a contract or monetary interest, or as damages for delay or failure to pay the principal loan which is demanded or compensatory interest. This means that in a loan, the creditor should release the full loan amount and the debtor repays it when it becomes due and demandable. 2655, as amended (Usury Law) vis-a Third Regular Session. "Section 29. Leonard Florent O. 10 However, Article 1602 in relation to Article 1604 of the Civil Code enumerates several instances whena contract, f. 1997 amounting P334. March 23, 2022 ] LOURDES CHENG, PETITIONER, VS. PROVIDING FOR THE REGULATION OF TRUST RECEIPTS TRANSACTIONS. x x x Raymundo asked consideration on the reduction of interest or extension of the repayment period as she promised to renew a loan to pay her outstanding loan. If it is onerous, the compensation to be paid by the borrower is referred to as conventional interest, as it is the interest agreed to by the parties themselves as distinguished from that prescribed by law. 5% per month or 6% per annum, representing Finance Charges based from the principal obligation to be computed starting from March 28, 2014; and M a n i l a. Sesbreno affirmed that a money market transaction partakes the nature of a SUPREME COURT. 00 loan on July 6, 1997 and another P500,000. REPUBLIC ACT No. (f) "Substantial stockholder" means any person who owns, directly or indirectly, shares of A simple loan or mutuum is a contract where one of the parties delivers to another, either money or other consumable thing, upon the condition that the same amount of the same kind and quality shall be paid. FIRST DIVISION. HUR TIN YANG, PETITIONER vs. The loan also continued to bind petitioner despite Sterling Shipping Lines, Inc. savings . CAGUIOA, J. 93752 which reversed and set aside the Resolutions dated April 14, 2009 and June 26, 2009 of the Regional Trial Court (RTC) of Makati City, Before the Court is a petition for review on certiorari 1 filed by petitioners Catalina F. ARTICLE 1933. " — When private respondent David invested his money on time and savings deposits with the aforesaid bank, the contract that was perfected was a contract of simple loan or mutuum and G. 43 Further, we defined a money market in Cebu International Finance Corporation v. "Person" includes natural and juridical persons unless the context indicates otherwise. CARMEN LIWANAG, petitioner, vs. 1. [34] A simple loan is a real contract and it shall not be perfected until the delivery of the object of the contract. In its assailed decision, the CA found and held thusly: x x x x. 1934 of the Civil Code, it being an accepted promise to deliver something by way of simple loan. There is no single conclusive test to determine whether a deed of sale, absolute on its face, is really a simple loan accommodation secured by a mortgage. COURT OF APPEALS and THE PEOPLE OF THE PHILIPPINES, represented by the Solicitor General, respondents. The Court held: The primary objective of a preliminary investigation is to free respondent from the inconvenience, expense, ignominy and stress of defending himself/herself in the course of a formal trial, until the reasonable probability of his or her guilt in a more or less summary proceeding by a competent office designated by law Thus, it remains that where interest was stipulated in writing by the debtor and creditor in a simple loan or mutuum, but no exact interest rate was mentioned, the legal rate of interest shall apply. Borja and Oscar V. The penalty of qualified theft, as earlier discussed, is two (2) degrees higher than that of simple theft under Article 309 of the RPC. 178454 March 28, 2011. DECISION. [35] If this amount is deducted from the total interest paymentsalready made, which is ₱576,000. 00, payable in monthly installments with an add­on interest at a rate of 3% per month (or 12 monthly payments of P453,333. The law simply imposes on the bank a higher standard of integrity and performance in complying with its obligations under the contract of simple loan, beyond those required of non-bank Acceleration clauses in loans for a fixed term give creditors a choice to: (1) defer collection of any unpaid amounts until the period ends; or (2) invoke the clause and collect the entire Article 1980 of the Civil Code expressly provides that "x x x savings x x x deposits of money in banks and similar institutions shall be governed by the provisions concerning simple loan. ESTONACTOC, RESPONDENT. Petitioner vs. : This is a motion for reconsideration of our February 1, 2012 Minute Resolution 1 sustaining the July 28, 2010 Decision 2 and December 20, 2010 Resolution 3 of the Court of Further, the RTC ruled that under Article 1980 of the Civil Code, "fixed, savings, and current deposits of money in banks and similar institutions shall be governed by the provisions concerning [simple] loan. ROMAN CATHOLIC BISHOP OF SAN PABLO, INC. under Resolution No. Central Bank of the Philippines , 21 we held that bank deposits are in the nature of irregular deposits; they are really loans because they earn interest. R. This petition for review1 assails the 21 April 2016 Decision2 and the 29 June 2016 Resolution3 of the Court of Appeals in CA-G. 19, representing the principal (loan) obligation; 2. GARCIA, J. :. 54 plus the compounding monetary interest rate of 14. My payments were begun/started last Dec. 4 Id. 00 on 06 August 1974 and the other P 200,000. PEOPLE OF THE PHILIPPINES, Respondent. 1933. money or other consumable thing, upon the condition that the same amount of the same kind and quality shall be paid in which case the contract is simply called a loan or mutuum. 00 but the cash given me was only P16,000. 101743, which affirmed with modification 1. pdf), Text File (. C/INSP. 00, The Lawphil Project Abuid, Treasurer of WJA, testified that the ₱40 Million check she initially paid to Velayo as downpayment was used by ARDC to settle its mortgage loan on TCT No. 00) to be paid not later than September 25, 2006. In their Complaint, petitioners alleged that respondents obtained a loan from them in the amount of P500,000. : This is a Petition2 for Review on Certiorari seeking to set aside the Decision3 and Resolution4 rendered by the Court of Appeals (CA) Manila, Fifth Division, in CA-G. GONZAGA-REYES, J. FILIPINA SAMSON, Petitioner, vs. g. Fixed, savings and current deposits of money in banks and similar institutions shall be governed by the provisions concerning simple loan (Article 1980, Civil Code of the Philippines). 104, 108 (1983) which apparently suggested that a contract of loan was a consensual contract, by noting that the contract in Bonnevie fell under the first clause of Art. : 1980 of the Civil Code provides that fixed, savings, current deposits of money m banks and similar institutions shall be governed by the prov1s1ons concerning simple loan. CR No. txt) or read online for free. A. doc / . Cynthia, on the other hand, further agreed to pay the mortgage loan of respondent over the subject property to a certain Jojo Lee in the amount of P295,000. Sabeniano, this Court ruled that a money market placement is a simple loan or mutuum. (Formerly First National City Bank) v. REYES, J. : This resolves the Petition for Review on Certiorari1 under Rule 45 of the Rules of Court filed by Lourdes Cheng (petitioner) praying for the reversal of the Decision2 dated May 31, 2012 and Resolution3 SIMPLE LOAN OR MUTUUM Article 1953. MICHAELINA RAMOS BALASBAS, Petitioner, vs. Specifically, Article 1980 categorically provides that ". 225433. 28. 83422 and its Resolution 2 dated June 8, 2007, denying her EN BANC. The Supreme Court in the same case held that the interest due (in case the obligation breached is a loan or forbearance of money) shall itself earn interest from the time it is judicially demanded. CARPIO, J. 102545. There is no conclusive test to determine whether a deed absolute on its face is really a simple loan accommodation secured by a mortgage. 00 but not exceeding P20,000. 204738. THIO, Respondent. 00. D E C I S I O N Case Digests_simple Loan - Free download as Word Doc (. Where one member of a group of controlled entities makes a loan or advances directly or indirectly, or otherwise becomes a creditor of another member of such group, and charges no interest, or charges interest at a rate which is not equal to an arm’s-length rate as defined in subparagraph (2) of this paragraph, the Commissioner may make appropriate allocations to Failure by the bank to pay the depositor is failure to pay a simple loan, and not a breach of trust. JULIA A. D E C I S I O N. HARRY TANZO, petitioner, vs. i. By the contract of loan, one of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it, in which 16 The provisions of the New Civil Code on simple loan govern the contract between a bank and its depositor. CAGUIOA, J: Before the Court is the Appeal1 under Rule 45 of the Rules of Court filed by petitioner Atty. A person who receives a loan of money or any other fungible thing acquires the ownership thereof, and is bound +63 (632) 359-4203 +63 (915) 954-6080 | +63 (949) 589-8377; This SUPREME COURT Manila. In response to the court's clarificatory questions, petitioner testified that she personally granted respondents the P200,000. COSON, Petitioner vs. SUPREME COURT Manila. By the contract of loan, one of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it, in which case the contract is called a commodatum; or money or other consumable thing, upon the condition that the same amount of the same kind and quality Cahilig worked as cashier at Wyeth Philippines Employees Savings and Loan Association, Inc. THE SUMMARY DISMISSAL BOARD AND THE REGIONAL APPELLATE BOARD, PNP, REGION VI, ILOILO CITY, petitioners, vs. At present, this is 6% per annum, subject to Nacar's qualification on prospective application. an act promoting universal access to quality tertiary education by providing for free tuition and other school fees in state universities and colleges, local universities and colleges and state-run technical-vocational institutions, establishing the Indeed, the 12% per annum finds application only if the obligation breached is for the payment of a sum of money. s. SALAZAR and MARIO J. : Appealed to this Court by way of a petition for review on certiorari are the Decision 1 dated December 19, 1997 and Resolution 2 dated April 30, 1998 of the Court of G. CAROLYN M. , Petitioner vs. 29, Rule 130. 5 To secure the loan, Megalopolis, through This is a petition for review on certiorari [1] under Rule 45 of the Rules of Court seeking to annul and set aside the Decision [2] dated May 31, 2016 and Resolution [3] dated October 10, 2016 issued by the Court of Appeals (CA) in CA-G. 56577 which set aside the Even if a document appears on its face to be a sale, the owner of the property may prove that the contract is really a loan with mortgage, and that the document does not express the true intent of the parties. THIRD DIVISION. 00, then April 1998 to May 1999 P889. The foregoing provision seems to imply that if the subject of the contract is a consumable thing, such as money, the contract would be a mutuum. 113216, September 5, 1997, 278 SCRA 657. Factual Antecedents Thus, we have ruled in a line of cases that a bank deposit is in the nature of a simple loan or mutuum. : Before us is a special civil action for certiorari under Rule 65 of the Rules of Court seeking to annul and set aside the April 10, 1992 Resolution of public (e) "Loan" covers both simple loan and commodatum as well as guarantees, financing arrangements or accommodations intended to ensure its approval. No person or corporation shall directly or indirectly take or receive in money or other property, real or personal, or choses in action, a higher rate of interest or greater sum or value, including commissions, premiums, fines and penalties, for the loan or renewal thereof or forbearance of money, goods, or credits, where such loan or renewal or forbearance is secured in whole or in Petitioner welcomed the proposal after consulting his wife, Cynthia. The real intent of the parties was simply to enter into a simple loan agreement. 1 G. The buyer may, at his option, The Lawphil Project - Arellano Law Foundation November 20, 2017. 190524 February 17, 2014. 191174. Isla (collectively, petitioners) assailing the Decision 2 dated May 31, 2017 and the Resolution 3 dated August 24, 2017 of the Court of Appeals (CA) in CA-G. 65 each, or a total amount of ₱743,794. A person who receives a loan of money or any other fungible thing acquires the ownership thereof, and is bound to pay to the creditor an equal amount of the same kind and quality. : The offense of estafa as defined and penalized under Article 315, paragraph 1(b) of the Revised Penal Code requires misappropriation or conversion of money. 00 on 27 March 1978. Pursuant to Bd. VILLARAMA, JR. (Megalopolis) obtained a loan from D'Nhew Lending Corporation (D'Nhew Lending) in the amount of P4,000,000. A simple loan or mutuum is a contract where one of the parties delivers to another, either money or other consumable thing, upon the condition that the same amount of the same kind and simple loan or mutuum Article 1953. FRANKLIN M. 130442 April 6, 2000. The Antecedent Facts Rolando Robles (hereinafter referred to as Robles), a certified public accountant, has been employed June 7, 2017. Article 1980 of the Civil Code expressly provides that "[f]ixed, savings, and current deposits of money in banks and similar institutions shall be governed by the provisions concerning simple loan. : Before us is a Petition for Review by way of Certiorari of the Decision of the Court of Appeals1 in CA-G. 736, c. Martinez, and the attestation of Director IV Dolores B. GOVERNMENT SERVICE INSURANCE SYSTEM, Respondent. 00 as the property was then set to be publicly auctioned on February 17, 1997. 8 (I) Subject to consultation with and the approval of a simple majority of the association members, acquire, hold, encumber and convey in its own name any right, title to or interest in real or personal property: Provided, That such approval of a simple majority of the association members shall not be required for the acquisition, holding, encumbrance and conveyance of personal These consolidated Petitions for Review on Certiorari under Rule 45 of the Rules of Court assail the August 28, 2009 Decision2 of the Court of Appeals (CA) in CA-G. The Lawphil Project Bank deposits, which are in the nature of a simple loan or mutuum,1 must be paid upon demand by the depositor. " In Serrano vs. Bonifacio. To emphasize, the Trust Receipts Law was created to "to aid in financing importers and retail dealers who do not have sufficient funds or resources to finance the importation or purchase of merchandise, and who may not be able to acquire credit except through utilization, as collateral, of the merchandise Petitioners attribute grave abuse of discretion on the part of the CA when it affirmed the SOJ's finding of probable cause. JESUS V. : At bar is a petition1 under Rule 45 of the 1997 Rules of Civil Procedure, as amended, assailing the Decision2 of the Court of Appeals (CA) dated May 31, 2012 and its Resolution3 dated December 4, 2012 first regular session. Sosa alleged that on July 28, 2006, she extended a loan of Five Hundred Thousand Pesos (P500,000. LARA'S GIFTS & DECORS, INC. The agreement, while referring to an investment in Grace Foreign Exchange, stated that the TITLE XI. THE HON. 00, Aug to March 2000 P2,524. , Petitioners, vs. , for the purpose of financing the manufacture of jute sacks in Davao, with special reference as to the advisability of financing this particular project based on present conditions obtaining in the operation of jute In simple loan with stipulation of usurious interest, the prestation of the debtor to pay the principal debt, which is the cause of the contract (Article 1350, Civil Code), is not illegal. 3 Id. 8042, OTHERWISE KNOWN AS THE MIGRANT WORKERS AND OVERSEAS FILIPINOS ACT OF 1995, AS AMENDED, FURTHER IMPROVING THE STANDARD OF PROTECTION AND Deceit is rarely simple and far from cut and dried. x x x It is undisputed that appellee obtained a loan from appellant, and as security, executed real estate and chattel mortgages. : This is a Petition for Review on Certiorari 1 filed under Rule 45 of the Rules of Court assailing the Decision 2 dated November 25, 2009 and Resolution 3 dated February 2, There is no single conclusive test to determine whether a deed absolute on its face is really a simple loan accommodation secured by a mortgage. T My loan was P20,000. Against the principal loan of ₱1,834,720. "Loan" covers both simple loan and commodatum as well as guarantees, financing arrangements or accommodations intended to ensure its approval. However, by the third extension of the loan, respondent spouses decided to alter the agreement by changing the manner of earning interest rate, compounding it beginning June 1986. " By reason of the erroneous payment made in Tan's favor, Tan and Union Bank became mutual debtors and creditors of each other. 210318, July 28, 2020 ] JANICE RESIDE Y TAN, PETITIONER, VS. The illegality lies only as to the prestation to pay the stipulated interest; hence, being separable, the latter only should be deemed void, since it is the only one that is illegal. JR. Simple loan may be gratuitous or with a stipulation to pay interest. In the present case, it was established that petitioners' principal loan obligation to respondent was P12,500,000. 00 appears to have beenpaid over and above what is due. : The Case. , the 12% rate of interest per annum previously prescribed by the then Central Bank of the Philippines (Central Bank), now Bangko Sentral ng Pilipinas (BSP) pursuant to Act No. LEONARD FLORENT O. IBAÑEZ, PETITIONER, VS. The exchange of loan proceeds and the subject checks was not simultaneous as the checks were issued for the pre-existing debt of P700,000. 00 should be set-off against the ₱471,000. at 140-149; penned by Commissioner Alicia dela Rosa-Bala, with the concurrence of Commissioner Robert S. 00 loan on July 30, 1997. AN ACT AMENDING REPUBLIC ACT NO. When the petitioners defaulted, the period for payment was extended, carrying over the terms of the original loan agreement, including the 5% simple interest. 00 which was used to cover part of the acquisition cost of the vessel, In Pure Foods Corporation v. Banco Filipino provided a loan to a borrower at 12% interest per annum with an escalation clause allowing While the function is referred to as deposit, it is strictly “simple loan” where the bank is the debtor and the depositor is the creditor. Although ostensibly uncomplicated, deception in various forms of dissembling, suppression of truth, concealment and misrepresentation, once established beyond reasonable doubt will give rise to criminal liability. He completely denied authorizing the loan or the check’s negotiation, and asserted that he was not privy to the parties’ loan agreement. [ G. 00 plus the applicable interest should be deducted loan payments, totaling ₱1,717,091. Offer of September 14, 2017. 133705. : Petitioner was charged with the crime of estafa before the Regional Trial Court (RTC), Branch 93, Quezon City, in an information which reads Ms. P5,000,000. 2 Id. The loan was evidenced by an acknowledgment receipt dated March 22, 1999 By a contract of simple loan, one of the parties delivers to another money upon the condition that the same amount of the same kind and quality shall be paid. : This Petition for Review under Rule 45 of the Rules of Court assails the January 30, 2015 Decision1 of the Court of Appeals (CA) in CA-G. RESTRIVERA, Respondent. ₱1,213,114. Badelles. The Court of Appeals affirmed the 27 January On September 10, 1997, the petitioner filed before the Regional Trial Court (RTC) a Complaint for Declaration of Nullity of Loan and Recovery of Damages against Gutierrez and co-respondent Marasigan. By the contract of loan, one of the parties delivers to another, . VELASCO JR. 18 A person who receives a loan Assuming arguendo that petitioners can raise into issue that the source of respondents' obligation is from a loan or forbearance, and not from fraud or negligence, this Court rules in the negative. , authorizing the re-examination of all the various aspects of the loan granted the Saura Import & Export Co. 1 Rollo, pp. The Lawphil Project FIRST DIVISION [ G. deposits of money in banks and similar institutions shall be governed Simple loan may be gratuitous or with a stipulation to pay interest. 5% per annum. RICA MARIE S. 114398 October 24, 1997. March 31, 2005. 110680. 34634, July 29, 2015. , J. Isla (Catalina), Elizabeth Isla, and Gilbert F. SECOND DIVISION. : The proper application of the confusing laws and jurisprudence on 1) the imposable interest rate, i. 10931. : The present Petition for Review on Certiorari1 filed under Rule 45 of the Rules of Court assails the June 28, 2013 Decision2 and the November 26, 2013 Resolution3 of the Court of Appeals (CA) in CA-G. PEOPLE OF THE PHILIPPINES, RESPONDENT. True enough, ICBC granted a loan to MCCI in the amount of P20,000,000. GLENDA RODRIGUEZ-ANGAT, Petitioner, vs. docx), PDF File (. 00, evidenced by a promissory note. CORONA, J. republic act no. 20 Section 27, Rule 130 of the Rules of Court pertinently states: Section 27. 207373. BENJAMIN EVANGELISTA,. This Petition for Review on Certiorari3 under Rule 45 of the Rules of Court assails the April 2, 2008 Decision4 and the May 30, 2008 Resolution5 of he Court of Appeals CA) in CA-G. J. e. General Provisions. On May 15, 2008, Megalopolis Properties, Inc. , loan or forbearance of money. DE LEON, JR. Mendoza at an interest of twenty-five thousand pesos (P25,000. Espina (Espina) and Violeta Tadeo (Tadeo) guilty of inefficiency in the performance of their official duties, and The contract between the bank and its depositor is governed by the provisions of the Civil Code on simple loan. ROMERO, J. Beray (Beray) guilty of simple neglect of duty, and Melissa T. 00 under the Loan Agreement was payable in 18 quarterly amortizations or SUPREME COURT Manila. MIDTOWN INDUSTRIAL SALES, INC. 218830. Since their contract is governed by the provisions of the Civil Code on simple loan or mutuum,72 the deposit must be paid upon demand by the depositor. However, she had exhibited her unreliability when she could not keep up with her promise, even surreptitiously obtaining salary and multi-purpose loans without giving their proceeds to complainant. 00 Philippine Currency which he used to pay his loan with the Rodriguez Rural The petitioner maintains that the various sums of money admittedly received by her from private respondents Mercado and Salud constituted a mere forebearance of money, or a simple loan, the certifications,21 not having made any reference to any agreement to invest the said sums of money with Philtrust Investment Corporation, or any understanding to that effect. R E S O L U T I O N. [24] The law simply imposes on the bank a higher standard of integrity and performance in complying with its obligations under the contract of simple loan, beyond those required of non-bank debtors under a similar contract of simple loan. ANTECEDENT They alleged therein that before his death, Anacleto Aquino obtained two (2) loans: one from claimants Spouses Rafael and Raquel Estipona in the amount of P300,000. at 61-62. BERSAMIN, C. The Lawphil Project Based on the foregoing, the spouses Berris are liable to pay the outstanding balance on the principal due under the Loan Agreement in the amount of P3,055,555. 00, then June 1999 and July P2,224. ’s cash equity contribution of ₱13,663,200. 15, to wit: Check No. 29 Since PCILF sold the mortgaged equipment to a third party for ₱1,025,000. C-J YULO & SONS, INC. 89086. HON. h. Date: Amount: 0105461: May 29, 2004 The Lawphil Project “To the benefit of private respondents, the Court of Appeals ruled, citing Sesbreno v. 15% representing attorney's fee(s], the same to be computed based from the principal obligation; 3. They agreed that a penalty or collection charge of ten percent (10%) per month shall accrue in case of default. 235020, December 10, 2019 ] ATTY. 42 In contemplation of the fiduciary nature of a bank-depositor relationship, the law imposes on the bank a higher standard of integrity and performance in complying with its obligations under the contract of simple loan, On a final note, there seems to be an oversight on the penalty of qualified theft under Article 310 of the RPC where the value to the thing, or amount stolen is more than P5,000. 31. 73 Thus, the Bank in this case would not stand to be injured as it is merely maintaining or keeping the money in trust for the depositors. 10022. PARADIGM DEVELOPMENT CORPORATION OF THE PHILIPPINES, Petitioner vs. 69 To reiterate, the principal amount, i. 671 (1995), that the subject transactions are akin to money market placements which partake the nature of a loan, the non-payment of which does not give rise to criminal liability for estafa. Hence, if the crime charged had been simple theft, the penalty in any of these six cases would have been, at least, The Lawphil Project 3. Bulatao) assailing the Decision2 dated October 19, 2017 . 35837 which affirmed in toto the February 27, 2013 Decision2 of the Footnotes. , Respondent D E C I S I O N. To secure payment of the loan, Benito and Lim issued eleven (11) Equitable PCI Bank checks with a face value of ₱67,617. 5 Petitioner Lim signed as a co-maker of her sister Benito. A person who receives a loan of money or any other fungible thing acquires the ownership thereof, and is bound to pay the creditor an Simple Loan or Mutuum Article 1953. 00) to Atty. 00 drawn in two tranches — P 200,000. Directing the plaintiffs to pay defendant Navarro the sum of P5,000,000. 102465. 195117 August 14, 2013. G. ZENAIDA C. Petitioner represented that she could facilitate the approval of the loan. 198932, October 09, 2019 ] DANILO S. LAZARO TORCITA, respondent. BULATAO, PETITIONER, VS. 33), as evidenced by a promissory note. GENERAL PROVISIONS ON LOAN Art. 55 They insist that the trust receipt agreement entered into by the parties was converted into a simple loan by virtue of the new schedule of payment that is totally incompatible with the original agreement. , Respondents. Court of Appeals, 310 Phil. Res. GARCIA, Petitioner, vs. CV No. : Petitioner Filipina Samson appeals the Decision 1 dated October 31, 2006 of the Court of Appeals (CA) in CA-G. , represented by ALEXANDER G, YU, Respondent D E C I S I O N. mnrr naqll ufdw fuq fkzi eltwt smgnp qrmgvdf vfhld dfot