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HELD:
YES. Interest may be imposed even
absence of stipulation in the contract.
in
the
Facts:
10.
Estores contends:
a. Not bound to pay interest because the deed
only provided for the return of the
downpayment in case of failure to comply with
her obligations
CA affirmed RTC
a. That interest should start on date of formal
demand by Spouses to return the money not
when contract was executed as stated by the
RTC
Spouses contend:
a. It is only fair that interest be imposed because
Estores failed to return the amount upon
demand and used the money for her benefit
Issue:
Is the imposition of interest and attorneys fees is
proper? YES
Interest based on Art 2209 of CC (6%) or under Central
Bank Circular 416 (12%)? 12%
Held:
Interest may be imposed even in the absence of
stipulation in the contract.