Third, for a few (3) minutes the newest petitioner offered to accept his loan obligation that have respondent CCP

Third, for a few (3) minutes the newest petitioner offered to accept his loan obligation that have respondent CCP

The latest trial judge gave five (5) grounds in the ruling in favor of respondent CCP. 2nd, assuming, arguendo, that the petitioner failed to personally benefit from the said financing, the guy need registered an authorized issue up against Wilson Lucmen, the so-called accommodated class however, he don’t. 4th, petitioner might not end his responsibility to blow his obligation not as much as the newest promissory mention (Exh. “A”) which he need certainly to follow for the good-faith pursuant to Article 1159 of your The Civil Password. Fifth, petitioner is estopped of doubting their liability or mortgage obligations in order to the personal respondent.

The fresh petitioner appealed the selection of your own trial court towards Court off Appeals insofar as it charged focus, surcharges, attorney’s fees and excellent damage contrary to the petitioner. He given up his so-called safeguards from the demo courtroom which he only accommodated his buddy, Wilson Lucmen, in the obtaining the loan, and you may rather acknowledge brand new validity of the same. On the August 31, 1993, the newest appellate court rendered a choice, the latest dispositive part of hence checks out:

We have been struggling to accept appellant’s (petitioner’s) claim to own modification on such basis as alleged partial or irregular results, around being nothing. Appellant’s give otherwise tender of fee can not be deemed due to the fact a good limited or irregular results of one’s package, maybe not an individual centavo has been paid back of the offender.

Yet not, the fresh new appellate judge modified the selection of your own demonstration courtroom of the removing the new award to own excellent injuries and you can decreasing the number of awarded attorney’s fees so you can four per cent (5%), from the ratiocinating below:

First, it provided absolutely nothing weight into petitioner’s contention the financing are merely with the rooms away from Wilson Lucmen toward reasoning that the protection propounded wasn’t credible itself

Given the points of your own situation, while the proven fact that plaintiff is represented by a national lawyer, We believe the new honor from twenty-five% as attorney’s costs and P500, due to the fact excellent problems is out of proportion into real destroy caused by the fresh new low-overall performance of the offer in fact it is excessive, unconscionable and you can iniquitous.

In the a resolution dated July 13, 1994, the fresh new appellate judge denied this new petitioner’s actions to possess reconsideration of your own said decision.

Inside the focus, new petitioner asked for the fresh new reduction of the newest penalties and you can charge on the his mortgage responsibility

New Respectable Legal Regarding Appeals Committed A mistake Into the Providing Its IMPRIMATUR With the Decision Of one’s Demonstration Judge Hence Compounded Appeal Towards SURCHARGES.

Somewhat, the latest petitioner doesn’t matter his liability to own their restructured loan under the promissory note noted Showcase “A”. The original concern getting solved in case at bar is whether you will find contractual and you can legal angles towards the imposition of one’s punishment, appeal into the penalty and you may attorney’s charges.

This new petitioner imputes error for the fresh new appellate legal into the maybe not completely reducing the new prize of attorney’s costs plus not decreasing the penalties considering that the petitioner, resistant to the appellate court’s results, have allegedly generated partial money on the loan. If in case punishment is to be provided, brand new petitioner try requesting the fresh new low-imposition interesting on surcharges inasmuch since the compounding from attract towards surcharges isn’t provided regarding promissory notice marked Display “A”. The fresh petitioner takes different on calculation of your personal respondent where the eye, surcharge as well as the dominant have been additional with her hence with the overall share interest was implemented. Petitioner and claims that there’s no base in-law getting the brand new billing interesting towards the surcharges this is because new Civil Code are with no any provision enabling the newest imposition of great interest into surcharges.

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