LEGAL INTEREST

Asia’s Emerging Dragon Corp vs. DOTC

G.R. No. 169914
March 24, 2008
-A person whose interest is merely indirect, contingent and inchoate has no right to intervene.

-The interest contemplated by law must be actual, substantial, material, direct and immediate.

INTEREST RATES
Svendsen Vs. People
G.R. No. 175381
February 26, 2008
Stipulations authorizing excessive interest are contra bonos mores, if not against the law.

Sunga-Chan Vs. CA
G.R. No. 164401
June 25, 2008
Rule on the Imposition of interest

GUARANTY

Autocorp Group vs. intra Strata Assurance Corp.

G.R. No. 166662
June 27,2008
A guarantor may proceed against the principal debtor the moment the debt becomes due and
demandable.
Available and demandable to surety.

PLEDGE
Land Bank of the Phils. V. Rep. of the phils.
G.R. No. 1507824
February 04,2008
Requisites of Contract

LOAN

Co Vs. Admiral United Savings Bank

G.R. No. 154740
April 16,2008
Accommodation Party
Liability

Un Ocampo III vs. People

G.R. Nos. 156547-51
February 4, 2008
Contract of
A person who receives a loan of money or any other fungible thing acquires ownership thereof and is
bound to pay the creditor an equal amount of the same kind and quality.

MORTGAGES

Metropolitan Bank and Trust Co. vs. Pascual

G.R. No. 163744
Where the mortgagee is a banking institution, the general rule that a purchaser or mortgagee of the
land need not look beyond the four corners of the title is inapplicable.

Land Bank of the Phils vs. Rep . of the Phils.

G.R. No. 150824
Feb. 4, 2008
Requisites of Mortgage

Olivares vs. Sarmiento

G.R. No. 158384
When contract is presumed to be an equitable mortgage

Consuelo Metal Corp. vs. Planters Dev’t Bank

G.R. No. 152580
June 26,2008
Foreclosure of Mortgage-proceedings thereon are presumed to have been regularly performed.

Ilagan-Mendoza vs. CA
G.R. No. 171374
April 8, 2008
The mortgage securing a valid loan contract may be foreclosed upon default in the payment of the loan
obligation.

Sia Tio vs, Abayata

G.R. No. 160898
June 27, 2008
Present when the bank did not exercise the due diligence required of a banking and financial institution
before entering into a mortgage contract.
CHATTEL MORTGAGE

Sps. Estanislao vs. East West Banking Corp.

G.R. no. 178537
Feb. 11, 2008
Depends on the validity of the loan secured by it.

SURETYSHIP

Eastern Assurance and Surety corp. vs. Con-field Construction and Dev’t Corp.
G.R. No. 159731
April 22, 2008
Solidary liability of a surety; application

AFP General Insurance Corp. vs. Molina

G.R. No. 151133
June 30, 2008
Once accepted by the oblige, it becomes valid and enforceable, irrespective of whether or not the
premium has been paid by the obligor.

The liability of the surety and the obligor is solidary.

PREFERENCE OF CREDITS

Consuelo Metal Corp vs. Planters Dev’t. Bank

G.R. No. 152580
June 26, 2008
Secured creditors shall enjoy preference over unsecured creditors.

Phil. Island Corp. for tourism Dev’t., Inc vs. victorias Milling Co., Inc.
G.R. No. 167674
June 17, 2008
Suspension of Proceedings of credit of preference