- Statute
- Civil Code
- Article
- Art. 1956
- Topic
- Simple Loan or Mutuum
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE XI LOAN General Provisions
- Chapter
- CHAPTER 2 Simple Loan or Mutuum
- Formerly
- Art. 1755a of the old Civil Code
- Year
- 1949
The provision
No interest shall be due unless it has been expressly stipulated in writing. (1755a)
Note on current application: this provision remains in force. The interest-rate ceilings of the Usury Law were suspended by Central Bank Circular No. 905 (1982), so there is no fixed statutory ceiling; Philippine courts may still reduce interest rates found to be unconscionable or iniquitous.
Cases applying this article
- Rosemarie Q. Rey v. Cesar G. Anson G.R. No. 211206
- Spouses Benito Baysa v. Spouses Fidel Plantilla G.R. No. 159271
- Heirs of Zoilo Espiritu v. Spouses Maximo Landrito G.R. No. 169617
- Francisco G. Chan v. Bank of the Philippine Islands G.R. No. 247776
- Philippine Commercial v. William Golangco Construction Corporation G.R. No. 195372
- Ibm Philippines v. Prime Systems Plus G.R. No. 203192
- Spouses Tagumpay N. Albos v. Spouses Nestor M. Embisan G.R. No. 210831
- Rolando C. de La Paz v. L & J Development Company G.R. No. 183360
- Philippine National Bank v. Spouses Enrique Manalo & Rosalinda Jacinto G.R. No. 174433
- Carlos Lim v. Development Bank of the Philippines G.R. No. 177050
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