PIZCON vs. PIZCON

 

PIZCON V. PIZCON 

FACTS: 

 Esteban Piczon-defendant

a.      president of to-be-incorporated company, Sosing-Lobos & Co., Inc.

b.      obtained a loan from Consuelo Piczon-petitioner

i.        as guarantor to Sosing;

ii.       PHp12,500 loan for the registration of Sosing in SEC

iii.     with 12% interest; to commence from date of execution of agreement (September 28, 1956)

2.      Demand for payment was first made on August 6, 1964

 

 

ISSUE: Whether the payment of twelve per cent interest of P12,500.00 shall commence to run from August 6, 1964 when plaintiffs made the first demand or on September 28, 1956, which is the date of execution?

RULING: 

September 28, 1956, which is the date of execution

Appellees' contention that the reference in Article 2209 to delay incurred by the debtor which can serve as the basis for liability for interest is to that defined in Article 1169 of the Civil Code reading is untenable.

If the contract stipulates from what time interest will be counted, said stipulated time controls, and, therefore interest is payable from such time, and not from the date of the fling of the complaint.

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