This case has been cited 1 times or more.
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2000-09-21 |
BELLOSILLO, J. |
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| We are not unaware of Sanchez v. Buenviaje[39] where the Court allowed the usurer to recover legal interest on the principal amount loaned. But such interest arose from the debtor's delay in paying the principal from the time of the creditor's demand. That is the reason why legal interest was counted only from the time the creditor filed his complaint for the recovery of a debt. In this case however, the debtor was never in delay. As a matter of fact, AUTOWORLD paid the principal of P6,980,000.00 and the whole usurious interest of P3,921,217.88 upon petitioner's insistent demand. Thus, the case of Sanchez v. Buenviaje herein cited will not apply to petitioner and it will not be entitled to legal interest on the amount of the principal loan. | |||||