Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 53 views

    Laureano vs. Kilayco and Lizares de Kilayco

    Uploaded by

    PNP Mayoyao
    Defendants took out a loan of P10,200 from Plaintiff and agreed to repay it in monthly installments of P500. The contract stipulated that overdue installments would be subject to 15% interest and Defendants would pay P2,000 if Plaintiff had to resort to legal action for recovery. The Court held that the 15% interest rate clause and P2,000 penalty were penal clauses as defined by Articles 1152, 1153 and 1154 of the Civil Code.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Laureano vs. Kilayco and Lizares de Kilayco

    Uploaded by

    PNP Mayoyao
    53 views1 page
    Defendants took out a loan of P10,200 from Plaintiff and agreed to repay it in monthly installments of P500. The contract stipulated that overdue installments would be subject to 15% interest and Defendants would pay P2,000 if Plaintiff had to resort to legal action for recovery. The Court held that the 15% interest rate clause and P2,000 penalty were penal clauses as defined by Articles 1152, 1153 and 1154 of the Civil Code.

    Original Description:

    Original Title

    Laureano vs. Kilayco and Lizares de Kilayco.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Defendants took out a loan of P10,200 from Plaintiff and agreed to repay it in monthly installments of P500. The contract stipulated that overdue installments would be subject to 15% interest and Defendants would pay P2,000 if Plaintiff had to resort to legal action for recovery. The Court held that the 15% interest rate clause and P2,000 penalty were penal clauses as defined by Articles 1152, 1153 and 1154 of the Civil Code.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    53 views1 page

    Laureano vs. Kilayco and Lizares de Kilayco

    Uploaded by

    PNP Mayoyao
    Defendants took out a loan of P10,200 from Plaintiff and agreed to repay it in monthly installments of P500. The contract stipulated that overdue installments would be subject to 15% interest and Defendants would pay P2,000 if Plaintiff had to resort to legal action for recovery. The Court held that the 15% interest rate clause and P2,000 penalty were penal clauses as defined by Articles 1152, 1153 and 1154 of the Civil Code.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Laureano vs.

    Kilayco and Lizares de Kilayco


    G.R. No. 10419, November 10, 1915

    Facts:

    Issue:

    Held:
    Defendants obligated themselves to pay the sum of P10,200 in monthly instalments
    of- P500, and obligated themselves, in the event of failure to pay any of the instalments on
    the date on which such instalments fell due, to pay interest at the rate of 15 per cent on all
    such overdue and unpaid instalments until the date of payment; and, further, in the event
    that the plaintiff should be compelled to have recourse to the courts for the recovery of the
    money lent, to pay to the plaintiff, by way of indemnification, the sum of P2,000. Held: That
    the provisions of the contract for the payment of interest at an increased rate and for the
    payment of an indemnity of P2,000 -were penal clauses, as defined by the terms of articles
    1152, 1153 and 1154 of the Civil Code.

    You might also like