This case has been cited 3 times or more.
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2010-08-23 |
ABAD, J. |
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| As to the rate of interest that may be awarded on the obligation to return the downpayment made in this case, the Court takes bearing from the decision in Trade & Investment Development Corporation of the Philippines v. Roblett Industrial Construction Corporation.[21] Thus, when as in this case an obligation - not constituting a loan or forbearance of money - is breached, the court may impose interest on the damages awarded (the return of the downpayment made) at the rate of 6% per annum. But such interest cannot be adjudged except when the demand to return the downpayment can be established with reasonable certainty. Here, such demand may be found in the counterclaim that the Tans filed in the action against them on January 12, 1999. | |||||
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2006-08-30 |
AUSTRIA-MARTINEZ, J. |
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| The RTC was correct in awarding interest on the principal amount at the legal rate which should be 12% per annum from the filing of the Information until fully paid, as this is in keeping with the Court's ruling in Trade & Investment Development Corporation of the Philippines v. Roblett Industrial Construction Corporation,[19] where the Court reiterated that: 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. | |||||
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2006-01-31 |
AUSTRIA-MARTINEZ, J. |
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| In Trade & Investment Development Corporation of the Philippines vs. Roblett Industrial Construction Corporation,[21] the Court held that:In Eastern Shipping Lines, Inc. v. Court of Appeals, this Court laid down the following rules with respect to the manner of computing legal interest: | |||||