G.R. NO. 160026 – 539 SCRA 564 – Civil Law – Credit Transactions – Credit Card – Credit Card Fees – Interest Rate – Penalty Edmerito Gobonseng subscribed for a credit card with Unibancard Corporation. The credit limit was P10k a month. The terms of the subscription are: that […]
Daily Archives: November 21, 2010
11 posts
G.R. Nos. 82282-83 – 167 SCRA 815 – Civil Law – Credit Transactions – Continuing Surety In 1980, Dynetics Inc., through its president, acquired a P25M export loan from Security Bank. In 1982, a credit accommodation (SWAP loan) was opened by Security Bank in favor of Dynetics allowing it […]
They are: (1) the existence of a previous valid obligation; (2) the agreement of all parties to the new contract; (3) the extinguishment of the old contract; and (4) the validity of the new one.
Novation may either be express, when the new obligation declares in unequivocal terms that the old obligation is extinguished; or implied, when the new obligation is on every point incompatible with the old one. Express novation takes place when the contracting parties expressly disclose that their object in making […]
Novation is made either by changing the object or principal conditions, referred to as an objective or real novation; or by substituting the person of the debtor or subrogating a third person to the rights of the creditor, which is known as subjective or personal novation. In both objective […]
The extinguishment of an obligation by the substitution or change of the obligation by a subsequent one which extinguishes or modifies the first is a novation.
G.R. No. 135046 – 312 SCRA 611 (110 SCAD 964) – Civil Law – Obligations and Contracts – Interest – Extinction of Obligations; Novation – CB Circular 905 In 1978, Spouses Laarni and Florante Bautista, acquired a loan (abt. P100k) from Apex Corp. The spouses executed a promissory note […]
In a contract of adhesion, stipulations therein are unilaterally prepared and imposed by a party on a take-it-or-leave-it basis. A contract of adhesion is “as binding as ordinary contracts, the reason being that the party who adheres to the contract is free to reject it entirely. Once agreed upon […]
G.R. No. 164159 – 527 SCRA 727 – Civil Law – Obligations and Contracts – Dacion en Pago – Indebtedness – CB Circular 905 – Interest Rate In 1988, Honorio Bulos, Jr., Atty. Tabalingcos and Dr. Lim incurred a P2.5M loan from Koji Yasuma, a Japanese national. The terms […]
G.R. NO. 147748 – 487 SCRA 423 – Mercantile Law – Law on Insurance – Contract of Adhesion – Contract Binds Parties – Pre-Need Plan – when insurance may not pay Visitacion Gaw bought a transferable pre-need plan from Pacific Plans in 1982. The plan provides that in case […]
G.R. No. 123298 – 416 SCRA 491 – Criminal Law – Book I – Mitigating Circumstances – Minority as a Defense – No Certificate of Birth Calpito was convicted of murder by the regional trial court. On November 21, 1990, Calpito robbed and killed a certain Villas in the […]