This case has been cited 1 times or more.
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2005-06-29 |
CHICO-NAZARIO, J. |
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| We do not agree. The fundamental doctrine of unjust enrichment is the transfer of value without just cause or consideration. The elements of this doctrine are: enrichment on the part of the defendant; impoverishment on the part of the plaintiff; and lack of cause. The main objective is to prevent one to enrich himself at the expense of another.[28] It is commonly accepted that this doctrine simply means that a person shall not be allowed to profit or enrich himself inequitably at another's expense.[29] In the instant case, there is no unjust enrichment to speak of. The amount of P225,905.79 was applied as payment for petitioner corporation's loan which was taken from the P250,000.00, together with its accrued interest, that was placed in time deposit with First Summa Savings and Mortgage Bank. The use of said amount as payment was approved by petitioner Pablo C. Javier, Sr. on 17 March 1983.[30] As further found by the RTC in its decision, the balance of the time deposit was withdrawn by petitioners.[31] | |||||