SPOUSES SALVADOR ABELLA AND ALMA ABELLA, Petitioners,
vs. SPOUSES ROMEO ABELLA AND ANNIE ABELLA, Respondents. G.R. No. 195166 Facts:
On July 31, 2002, petitioners Spouses Salvador and Alma Abella fled a Complaint or sum o money and dama!es "it# prayer or preliminary atta$#ment a!ainst respondents Spouses Romeo Romeo and Annie Annie Abella Abella beor beore e t#e Re!ional e!ional %rial Court, Court, &ran$# &ran$# ', (alibo (alibo,, A)lan. A)lan. *n t#eir t#eir Complaint, petitioners alle!ed t#at respondents obtained a loan rom t#em in t#e amount o P+00,000.00. %#e loan "as eviden$ed by an a$)no"led!ment re$eipt dated ar$# 22, 1--- and "as payable "it#in one 1/ year. Petitioners added t#at respondents "ere able to pay a total o P200,0 P200,000. 00.00 00 P100,0 P100,000. 00.00 00 paid on t"o separa separate te o$$asio o$$asionsl nsleav eavin! in! an unpaid unpaid balan$e balan$e o P300,000.00. *n t#eir Ans"er "it# $ounter$laim and motion to dismiss/, respondents alle!ed t#at t#e amount involved did not pertain to a loan t#ey obtained rom petitioners petitioners but "as part o t#e $apital or a oint venture involvin! t#e lendin! o money. *n t#e e$ision dated e$ember 2', 200+, t#e Re!ional %rial Court ruled in avor o petitioners. *t noted t#at t#e terms o t#e a$)no"led!ment re$eipt ee$uted by respondents $learly s#o"ed t#at4 a/ respondents "ere indebted to t#e etent o P+00,000.005 b/ t#is indebtedness "as to be paid "it#in one 1/ year5 and and $/ $/ t#e t#e indeb indebte tedn dnes ess s "as sub sube$ e$tt to inte intere rest st.. %#us, %#us, t#e t#e trial trial $our $ourtt $on$ $on$lud luded ed t#at t#at respondents obtained a simple loan, alt#ou!# t#ey later invested its pro$eeds in a lendin! enterprise. %#e Re!ional %rial Court adud!ed respondents solidarily liable to petitioners. %#e Court o Appeals noted t#at "#ile t#e a$)no"led!ement re$eipt s#o"ed t#at interest "as to be $#ar!ed, $#ar!ed, no parti$ular parti$ular interest rate "as spe$ifed. spe$ifed. %#us, at t#e time respondents respondents "ere ma)in! intere interest st paymen payments ts o 2.+6 2.+6 per mont#, t#ese intere interest st paymen payments ts "ere "ere invalid invalid or not bein! bein! properly stipulated by t#e parties. Issue:
7#et#er or not interest a$$rued on respondents8 loan rom petitioners. * so, at "#at rate9 e!":
:es, :es, interest a$$rued on respondents8 loan. l oan. Arti$le 1-+; o t#e Civil Code spells out t#e basi$ rule t#at o. ?-; dated 1; ay 2013, approved approved t#e ollo"in! ollo"in! revisions revisions !overnin! !overnin! t#e rate o intere interest st in t#e absen$ absen$e e o stipulat stipulation ion in loan $ontra$ts, $ontra$ts, t#ereby t#ereby amendin! amendin! Se$tio Se$tion n 2 o Cir$ul Cir$ular ar >o. -0+, Series Series o 1-'2. 1-'2. %#us, %#us, rom rom t#e ore!oin ore!oin!, !, in t#e absen$e absen$e o an epr epress ess stipulation stipulation as to t#e rate o interest t#at "ould !overn t#e parties, the rate of legal interest for
loans or forbearance of any money, goods or credits and the rate allowed in judgments shall no longer be twelve percent 12%! per but will now be si" percent #%! per annum e$ective uly 1, 2&1'.
