Fermin Ong v. Court of Appeals

Summary

This case involves a loan dispute between cousins Fermin and Mariano Ong over the outstanding amount owed. Fermin claimed his debt was P120,000.00 after partial payment, while Mariano sought P160,000.00. The Supreme Court affirmed the Court of Appeals' finding that the debt remained at P160,000.00, equivalent to the face value of three remaining post-dated checks. The Court rejected Fermin's compensation defense regarding stored zippers, ruling that no reciprocal obligation existed and Civil Code requirements for set-off were not met. The decision emphasized that factual findings must be supported by concrete evidence, noting that no receipt existed for the alleged partial payment and no corresponding reduction was made in the security instruments.