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PCI LEASING v. TROJAN METAL INDUSTRIES INCORPORATED

This case has been cited 2 times or more.

2013-02-18
BERSAMIN, J.
Interest on interest = interest computed as of the filing of the complaint x no. of years until date of sale to a third party (payment).[59]
2012-01-18
SERENO, J.
Finally, the incident occurred in 1992. Almost 20 years have passed; yet, respondents, who were innocent bystanders, have not been compensated for the loss of their homes, properties and livelihood. Notably, neither the RTC nor the CA imposed legal interest on the actual damages that it awarded respondents. In Eastern Shipping Lines v. Court of Appeals,[16] enunciated in PCI Leasing & Finance Inc. v. Trojan Metal Industries, Inc.,[17] we laid down the rules for the imposition of legal interest as follows: I.  When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.