Eastern Shipping Lines v. CA (1994) Petitioners: EASTERN Petitioners: EASTERN SHIPPING LINES, INC Respondents: HN. C!RT " APPEALS AN# $ERCANTILE INS!RANCE C$PAN% C$PAN%,, INC. Ponente: &it'g Topic: Reeies *+r rea-h FACTS: T+ T+ *i/er *i/er r's r's +* ri/+*0av ri/+*0avin in ere shippe shippe *r+ %++ha %++haa, a, 2apan 2apan *+r e0iver3 e0iver3 vesse0 SS EASTERN C$ET5 +ne /3 Eastern. The shipent as ins're 'ner $er-anti0e5s $arine Ins'ran-e P+0i-3 N+. 617811 *+r P:;,:6<,4;;.:6. !p+n arriva0 +* the shipent in $ani0a, it as is-harge 'nt+ the -'st+3 +* $etr+ P+rt Servi-e, In-. The 0atter e=-epte t+ +ne r', sai t+ /e in /a +rer, hi-h aage as 'nn+n t+ $er-anti0e. A00ie r+erage r+erage C+rp+rati+n C+rp+rati+n re-eive the shipent *r+ $etr+ P+rt, +ne r' +pene an ith+'t sea0 A00ie e0ivere the shipent t+ the -+nsignee5s -+nsignee5s areh+'se. areh+'se. The 0atter e=-epte t+ +ne r' hi-h -+ntaine spi00ages, hi0e the rest +* the -+ntents as a'0terate7*ae. $er-anti0e -+ntene that 'e t+ the 0+sses7aage s'staine /3 sai r', the -+nsignee s'**ere s'**ere 0+sses t+ta0ing P19,8:<.9>, P19,8:<.9>, 'e t+ the *a'0t an neg0igen-e neg0igen-e +* Eastern, $etr+ P+rt, an A00ie (e*en ( e*enants). ants). C0ais ere presente presente against e*enants h+ *ai0e an re*'se t+ pa3 the sae. As a -+nse?'en-e -+nse?'en-e +* the 0+sses s'staine, s'staine, $er-anti0e as -+pe00e t+ pa3 the -+nsignee -+nsignee P19,8:<.9> 'ner the arine ins'ran-e p+0i-3, s+ that it /e-ae s'/r+gate t+ a00 the rights +* a-ti+n +* sai -+nsignee against e*enants. The C"I he0@ these 0+sses7aages +--'rre /e*+re the shipent rea-he the -+nsignee hi0 hi0e e 'ne 'nerr the the s'-s'--es essi sive ve -'st -'st+ +ie ies s +* e*e e*en nan ants ts.B .B Th's Th's,, the3 the3 ere ere +re +rere re t+ pa3 pa3 “P19,032.95, with the present le!l interest o" 12# per !nn$% "ro% &cto'er 1, 19(2, the d!te o" "ilin o" this co%pl!ints, $ntil "$ll) p!id.* The CA !""ir%ed, !""ir%ed , th's this appea0 /3 Eastern, arg'ing@ The grant +* interest +n the -0ai +* $er-anti0eD sho$ld co%%ence+"ro% the d!te o" the decision o" the tri!l co$rt !nd onl) !t the r!te o" si percent per !nn$%, !nn$% , $er-anti0e5sD -0ai /eing inisp'ta/03 'n0i?'iate.B -SS/S:
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+N the pa3ent +* 0ega0 interest +n an aar *+r 0+ss +r aage is t+ /e -+p'te *r+ the tie the -+p0aint is *i0e +r *r+ the ate the e-isi+n appea0e *r+ is renere o "r+ the ate the e-isi+n appea0e appea0 e *r+ is renere r enere. Intertine ith@ i th@ +N the app0i-a/0e rate +* interest is 1
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o
o
o
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&T/S:
-0ari*i-at -0ari*i-ati+n i+n an re-+n-i0i re-+n-i0iati+ ati+n, n, t+ s'ggest s'ggest the *+00+in *+00+ing g r$les r$les o" th$%' th$%' "or "$t$re $id!nce. I. hen an +/0igat +/0igati+n, i+n, regar0ess regar0ess +* its s+'r-e, s+'r-e, i.e., i.e., 0a, 0a, -+ntra-+ntra-ts, ts, ?'asi ?'asi ‐ -+ntra-ts, e0i-ts +r ?'asie0i-ts is /rea-he, the -+ntraven+r -an /e he0 0ia/0e *+r aages. The pr+visi+ns 'ner Tit0e &III +n J#aagesJ +* the Civi0 C+e g+vern in eterining the eas're +* re-+vera/0e aages. II. ith regar parti-'0ar03 t+ an aar +* interest in the -+n-ept +* a-t'a0 an -+pensat+r3 aages, the rate +* interest, as e00 as the a--r'a0 there+*, is ip+se, as *+00+s@ A. hen the +/0igati+n +/0igati+n is /rea-he, /rea-he, an it -+nsists in the pa3ent +* a s' +* +ne3, i.e., a 0+an +r *+r/earan-e +* +ne3, the interest 'e sh+'0 /e that hi-h a3 have /een stip'0ate in riting. "'rther+re, the interest 'e sha00 itse0* earn 0ega0 interest *r+ the tie it is 'i-ia003 eane. eane. In the a/sen-e +* stip'0ati+n, the rate +* interest sha00 /e 1
