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EASTERN SHIPPING LINES v. CA

This case has been cited 161 times or more.

	AC. No. 9390 2012-08-01	EMILIA O. DHALIWAL v. ATTY. ABELARDO B. DUMAGUING PERLAS-BERNABE, J.
Since respondent withdrew the consignation of the BPI manager's checks in the total amount of P311,891.94 from the HLURB and the same was not used to settle the balance of the purchase price of the parcel of land purchased by complainant from Fil-Estate, then reimbursement with legal interest[4] was properly ordered by the IBP.
	GR No. 181995 2012-07-16	BIBIANO C. ELEGIR v. PHILIPPINE AIRLINES REYES, J.
The petitioner claims that the CA should have imposed interest on the monetary award in his favor. To support his claim, he cited the case of Eastern Shipping Lines, Inc. v. Court of Appeals,[39] where this Court summarized the rules in the imposition of the proper interest rates: I. When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 193089 2012-07-09	ROSENA FONTELAR OGAWA v. ELIZABETH GACHE MENIGISHI PERLAS-BERNABE, J.
In view of the foregoing, the Court cannot sustain the findings of the CA that both parties are at fault.[12] Accordingly, the award of damages granted by the RTC in favor of petitioner must be reinstated with the modification that the award of actual damages in the amount of P400,772.00,13 in the nature of a loan or forbearance of money, shall earn 12% per annum reckoned from the date of filing of the instant complaint granted by the RTC in favor of petitioner must be reinstated with the modification that the award of actual damages in the amount of P400, 772.00,[13] in the nature of a loan or forbearance of money, shall earn 12% interest per annum reckoned from the date of filing of the instant complaint until the finality of this Decision. Thereafter, the judgment award inclusive of interest shall bear 12% annual interest until fully paid.[14]
	GR No. 190875 2012-06-13	ANICETO BANGIS SUBSTITUTED BY HIS HEIRS v. ADOLFO PERLAS-BERNABE, J.
Following the Court's ruling in the iconic case of Eastern Shipping Lines, Inc. v. Court of Appeals,[64] the foregoing liability, which is based on a loan or forbearance of money, shall be subject to legal interest of 12% per annum from the date it was judicially determined by the CA on March 30, 2009 until the finality of this Decision, and not from 1975 (the date of the constitution of the mortgage); nor from 1998 (when an attempt to pay was made) or in 2000 at the time the complaint was filed, because it was the Heirs of Adolfo and not Bangis who filed the instant suit[65] to collect the indebtedness. Thereafter, the judgment award inclusive of interest shall bear interest at 12% per annum until its full satisfaction.[66]
	GR No. 173870 2012-04-25	OSCAR DEL CARMEN v. GERONIMO BACOY DEL CASTILLO, J.
All told and considering that the amounts of damages awarded are in accordance with prevailing jurisprudence, the Court concurs with the findings of the CA and sustains the awards made. In addition, pursuant to Eastern Shipping Lines, Inc. v. Court of Appeals,[50] an interest of six percent (6%) per annum on the amounts awarded shall be imposed, computed from the time the judgment of the RTC is rendered on April 17, 2000 and twelve percent (12%) per annum on such amount upon finality of this Decision until the payment thereof.
	GR No. 161909 2012-04-25	PHILTRANCO SERVICE ENTERPRISES v. FELIX PARAS BERSAMIN, J.
Pursuant to Eastern Shipping Lines, Inc. v. Court of Appeals,[38] legal interest at the rate of 6% per annum accrues on the amounts adjudged reckoned from July 18, 1997, the date when the RTC rendered its judgment; and legal interest at the rate of 12% per annum shall be imposed from the finality of the judgment until its full satisfaction, the interim period being regarded as the equivalent of a forbearance of credit.
	GR No. 183308 2012-04-25	INSULAR INVESTMENT v. CAPITAL ONE EQUITIES CORP. MENDOZA, J.
Lastly, as regards the legal interest which should be imposed on the award, the Court directs the attention of the parties to the case of Eastern Shipping Lines v. Court of Appeals,[58]
	GR No. 175139 2012-04-18	HERMOJINA ESTORES v. SPS. ARTURO DEL CASTILLO, J.
Petitioner's unwarranted withholding of the money which rightfully pertains to respondent-spouses amounts to forbearance of money which can be considered as an involuntary loan. Thus, the applicable rate of interest is 12% per annum. In Eastern Shipping Lines, Inc. v. Court of Appeals,[35]cited in Crismina Garments, Inc. v. Court of Appeals,[36] the Court suggested the following guidelines: When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on 'Damages' of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 188661 2012-04-11	ESTELITA VILLAMAR v. BALBINO MANGAOIL REYES, J.
IN VIEW OF THE FOREGOING, the instant petition is DENIED. The February 20, 2009 Decision and July 8, 2009 Resolution of the Court of Appeals, directing the rescission of the agreement and absolute deed of sale entered into by Estelita Villamar and Balbino Mangaoil and the return of the down payment made for the purchase of the subject property, are AFFIRMED. However, pursuant to our ruling in Eastern Shipping Lines, Inc. v. CA,[31] an interest of 12% per annum is imposed on the sum of P185,000.00 to be returned to Mangaoil to be computed from the date of finality of this Decision until full satisfaction thereof.
	GR No. 173320 2012-04-11	EDUARDO B. MANZANO v. ANTONIO B. LAZARO PERALTA, J.
The RTC, as affirmed by the CA, ordered petitioner to pay respondent the amount of P220,000.00 plus legal interest, however, the legal rate of interest was not specified. As to computation of legal interest, Eastern Shipping Lines, Inc. u Court of Appeals[19] laid down the following guidelines, thus: x x x x
	GR No. 193279 2012-03-14	ELEANOR DE LEON LLENADO v. PEOPLE SERENO, J.
However, conforming to prevailing jurisprudence, we find the need to modify the ruling of the CA with regard to the imposition of interest on the judgment. It has been established that in the absence of stipulation, the rate of interest shall be 12% per annum to be computed from default, that is, from judicial or extrajudicial demand under and subject to the provisions of Article 1169 of the Civil Code.[9] In Ongson v. People,[10] we held that interest began to run from the time of the extrajudicial demand, as duly proved by the creditor. Thus, petitioner should also be held liable for the amount of the dishonored check, which is ?1,500,000, plus 12% legal interest covering the period from the date of the receipt of the demand letter on 14 May 1999 to the finality of this Decision. The total amount due in the dispositive portion of the CA's Decision, inclusive of interest, shall further earn 12% interest per annum from the finality of this Decision until fully paid.
	GR No. 151258 2012-02-01	ARTEMIO VILLAREAL v. PEOPLE SERENO, J.
WHEREFORE, the appealed Judgment in G.R. No. 155101 finding petitioner Fidelito Dizon guilty of homicide is hereby MODIFIED and set aside IN PART. The appealed Judgment in G.R. No. 154954 - finding Antonio Mariano Almeda, Junel Anthony Ama, Renato Bantug, Jr., and Vincent Tecson guilty of the crime of slight physical injuries - is also MODIFIED and set aside in part. Instead, Fidelito Dizon, Antonio Mariano Almeda, Junel Anthony Ama, Renato Bantug, Jr., and Vincent Tecson are found guilty beyond reasonable doubt of reckless imprudence resulting in homicide defined and penalized under Article 365 in relation to Article 249 of the Revised Penal Code. They are hereby sentenced to suffer an indeterminate prison term of four (4) months and one (1) day of arresto mayor, as minimum, to four (4) years and two (2) months of prision correccional, as maximum. In addition, accused are ORDERED jointly and severally to pay the heirs of Lenny Villa civil indemnity ex delicto in the amount of ?50,000, and moral damages in the amount of ?1,000,000, plus legal interest on all damages awarded at the rate of 12% from the date of the finality of this Decision until satisfaction.[280] Costs de oficio.
	GR No. 162100 2012-01-18	PENTA CAPITAL FINANCE CORPORATION v. TEODORO BAY SERENO, J.
Both parties impugn the computation by the CA of interest on the judgment awards. On the one hand, Reynoso claims that its computation was deficient, because two items in the judgment pertain to money market placements. These placements were subject to "roll overs" in this case, pertaining to the reinvestment of the principal together with its earned interest of 14% per annum, which shall earn another 14% per annum, and so forth. Reynoso further alleges that the resulting amount should be subjected to the 12% per annum legal interest on the judgment awards after finality of the judgment, pursuant to the rule laid down in Eastern Shipping Lines, Inc. v. Court of Appeals [34] and Crismina Garments, Inc. v. Court of Appeals.[35] On the other hand, CCC claims that the CA's computation was excessive, because the judgment award should be subject to a 12% interest rate only.
	GR No. 151038 2012-01-18	PETRON CORPORATION v. SPS. CESAR JOVERO SERENO, J.
Finally, the incident occurred in 1992. Almost 20 years have passed; yet, respondents, who were innocent bystanders, have not been compensated for the loss of their homes, properties and livelihood. Notably, neither the RTC nor the CA imposed legal interest on the actual damages that it awarded respondents. In Eastern Shipping Lines v. Court of Appeals,[16] enunciated in PCI Leasing & Finance Inc. v. Trojan Metal Industries, Inc.,[17] we laid down the rules for the imposition of legal interest as follows: I. When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 178699 2011-09-21	BPI EMPLOYEES UNION - METRO MANILA v. BANK OF PHILIPPINE ISLANDS DEL CASTILLO, J.
Pursuant to our ruling in Eastern Shipping Lines, Inc. v. Court of Appeals,[39] the legal interest of 12% per annum shall be imposed upon the monetary award granted in favor of Uy, from the time this Court's March 31, 2005 Decision became final and executory until full satisfaction thereof, for the delay caused. This natural consequence of a final judgment is not defeated notwithstanding the fact that the parties were at variance in the computation of what is due to Uy under the judgment.[40]
	GR No. 173038 2011-09-14	ELENA JANE DUARTE v. MIGUEL SAMUEL A.E. DURAN DEL CASTILLO, J.
Finally, although not raised as an issue, we find it necessary to modify the legal interest rate imposed on the principal amount claimed. Since the claim involves an obligation arising from a contract of sale and not a loan or forbearance of money, the interest rate should be six percent (6%) per annum of the amount claimed from July 29, 2002.[70] The interest rate of twelve percent (12%) per annum, however, shall apply from the finality of judgment until the total amount awarded is fully paid.[71]
	GR No. 170486 2011-09-12	SWIFT FOODS v. SPS. JOSE MATEO DEL CASTILLO, J.
Nevertheless, the Court finds basis for modifying the trial and the appellate courts' disposition regarding the interest rate imposable on the cash bond.[62] Since the bond is not a loan or a forbearance of money, the interest rate should only be six percent (6%) per annum from May 17, 1999,[63] which is the date of judicial demand. The interest rate of twelve percent (12%) per annum shall apply from the finality of judgment until its full satisfaction.[64]
	GR No. 171468 2011-08-24	NEW WORLD INTERNATIONAL DEVELOPMENT v. NYK-FILJAPAN SHIPPING CORP. ABAD, J.
In Prudential Guarantee and Assurance, Inc. v. Trans-Asia Shipping Lines, Inc.,[10] the Court regarded as proper an award of 10% of the insurance proceeds as attorney's fees. Such amount is fair considering the length of time that has passed in prosecuting the claim.[11] Pursuant to the Court's ruling in Eastern Shipping Lines, Inc. v. Court of Appeals,[12] a 12% interest per annum from the finality of judgment until full satisfaction of the claim should likewise be imposed, the interim period equivalent to a forbearance of credit.
	GR No. 165476 2011-08-15	AGRIPINO V. MOLINA v. PACIFIC PLANS PERALTA, J.
Nonetheless, it may not be amiss to reiterate the prevailing rule as enunciated in the landmark case of Eastern Shipping Lines, Inc. v. Court of Appeals[12] thus: I. When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 175021 2011-06-15	REPUBLIC v. THI THU THUY T. DE GUZMAN LEONARDO-DE CASTRO, J.
We agree with the Court of Appeals that the RTC erred in the interest rate and other monetary sums awarded to respondent as baseless. However, we must further modify the interest rate imposed by the Court of Appeals pursuant to the rule laid down in Eastern Shipping Lines, Inc. v. Court of Appeals [83]:
	GR No. 179675 2011-06-08	SPS. JUANITO MAHUSAY AND FRANCISCA MAHUSAY v. B.E. SAN DIEGO NACHURA, J.
property where the purchase price is not paid in full. The unpaid seller's remedy is either an action to collect the balance or to rescind the contract within the time allowed by law. Since rescission is no longer an option considering that petitioners have been in possession of the properties for a considerable period of time, substantial justice dictates that respondent be entitled to receive the unpaid balance of the purchase price, plus legal interest thereon.[21] In line with our ruling in Eastern Shipping Lines, Inc. v. Court of Appeals,[22] the legal interest to be paid on the amount shall be 12% per annum, which shall commence from April 18, 1990, when respondent filed the Complaint for Specific Performance with the RTC, Branch 73, Malabon, in Civil Case No. 1433-MN, which shall be considered as judicial demand, until the finality of this Decision. Another 12% interest per annum shall be paid on the amount due and owing as of and from the date of finality of the Decision until full payment. WHEREFORE, the petition is DENIED. The Resolution of the Court of Appeals dated September 11, 2007 is AFFIRMED with MODIFICATION. The trial court is directed to compute the unpaid balance of the purchase
	GR No. 193178 2011-05-30	PHILIPPINE SAVINGS BANK v. SPS. ALFREDO M. CASTILLO NACHURA, J.
However, as regards the above mentioned award for refund to respondents of their interest payments in excess of 17% per annum, the same should include legal interest. In Eastern Shipping Lines, Inc. v. Court of Appeals,[22] we have held that when an obligation is breached, and it consists in the payment of a sum of money, the interest on the amount of damages shall be at the rate of 12% per annum, reckoned from the time of the filing of the complaint.[23]
	GR No. 179010 2011-04-11	ELENITA M. DEWARA v. SPS. RONNIE AND GINA LAMELA AND STENILE ALVERO NACHURA, J.
Finally, the indemnity imposed against Eduardo shall earn an interest at the rate of twelve percent per annum, in accordance with our ruling in Eastern Shipping Lines, Inc. v. Court of Appeals.[29]
	GR No. 158576 2011-03-09	CORNELIA M. HERNANDEZ v. CECILIO F. HERNANDEZ PEREZ, J.
Cecilio breached an obligation that is neither a loan nor forbearance of money. The decision of the lower court ordering Cecilio to pay the amount of P6,189,417.60 to Cornelia at 12% per annum until fully paid should be modified to 6% per annum from the time of the filing of the complaint up to the date of the decision, and at 12% per annum from finality until fully paid, in order to conform to the doctrine enunciated by Eastern Shipping Lines, Inc. v. Court of Appeals,[45] to wit: 2. When an obligation, not constituting a loan or forbearance of money, is breached, an interest on the amount of damages awarded may be imposed at the discretion of the court at the rate of 6% per annum. No interest, however, shall be adjudged on unliquidated claims or damages except when or until the demand can be established with reasonable certainty. Accordingly, where the demand is established with reasonable certainty, the interest shall begin to run from the time the claim is made judicially or extrajudicially (Art. 1169, Civil Code) but when such certainty cannot be so reasonably established at the time the demand is made, the interest shall begin to run only from the date of the judgment of the court is made (at which time the quantification of damages may be deemed to have been reasonably ascertained). The actual base for the computation of legal interest shall, in any case, be on the amount of finally adjudged.
	GR No. 168770 2011-02-09	ANUNCIACION VDA. DE OUANO v. REPUBLIC VELASCO JR., J.
Given the foregoing disquisitions, equity and justice demand the reconveyance by MCIAA of the litigated lands in question to the Ouanos and Inocians. In the same token, justice and fair play also dictate that the Ouanos and Inocian return to MCIAA what they received as just compensation for the expropriation of their respective properties plus legal interest to be computed from default, which in this case should run from the time MCIAA complies with the reconveyance obligation.[43] They must likewise pay MCIAA the necessary expenses it might have incurred in sustaining their respective lots and the monetary value of its services in managing the lots in question to the extent that they, as private owners, were benefited thereby.
	GR No. 184215 2011-02-09	OCEANEERING CONTRACTORS v. NESTOR N. BARRETTO PEREZ, J.
Tested alongside the twin requirements of pleading and proof for the grant of actual damages, on the other hand, we find that the CA also erred in awarding the full amount of P306,000.00 in favor of Oceaneering, as and by way of refund of the consideration it paid Barretto for the Time Charter Agreement. Aside from not being clearly pleaded in the answer it filed a quo, said refund was claimed in Oceaneering's demand letters only to the extent of the unused charter payment in the reduced sum of P224,400.00[63] which, to our mind, should be the correct measure of the award. Having breached an obligation which did not constitute a loan or forbearance of money, moreover, Barretto can only be held liable for interest at the rate of 6% per annum on said amount as well as the P2,226,620.00 value of the lost cargo instead of the 12% urged by Oceaneering. Although the lost cargo was not included in the demand letters the latter served the former, said interest rate of 6% per annum shall be imposed from the time of the filing of the complaint which is equivalent to a judicial demand.[64] Upon the finality of this decision, said sums shall earn a further interest of 12% per annum until full payment in accordance with the following pronouncements handed down in Eastern Shipping Lines, Inc. vs. Court of Appeals,[65] to wit: "2. When an obligation, not constituting a loan or forbearance of money, is breached, an interest on the amount of damages awarded may be imposed at the discretion of the court at the rate of 6% per annum. No interest, however, shall be adjudged on unliquidated claims or damages except when or until the demand can be established with reasonable certainty. Accordingly, where the demand is established with reasonable certainty, the interest shall begin to run from the time the claim is made judicially or extrajudicially (Art. 1169, Civil Code) but when such certainty cannot be so reasonably established at the time the demand is made, the interest shall begin to run only from the date of the judgment of the court is made (at which time the quantification of damages may be deemed to have been reasonably ascertained). The actual base for the computation of legal interest shall, in any case, be on the amount of finally adjudged.
	GR No. 190521 2011-01-12	LETICIA TAN v. OMC CARRIERS BRION, J.
Finally, we impose legal interest on the amounts awarded, in keeping with our ruling in Eastern Shipping Lines, Inc. v. Court of Appeals,[39] which held that: I. When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delictsis breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 171379 2011-01-10	JOSE MARQUES v. FAR EAST BANK CARPIO, J.
The Court agrees with the Court of Appeals in reducing the interest rate from 12% to 6% as the obligation to pay does not arise from a loan or forbearance of money. In Eastern Shipping Lines, Inc. v. Court of Appeals,[35] the Court laid down the following guidelines for the application of the proper interest rates: I. When an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for damages. The provisions under Title XVIII on "Damages" of the Civil Code govern in determining the measure of recoverable damages.
	GR No. 176381 2010-12-15	PCI LEASING v. TROJAN METAL INDUSTRIES INCORPORATED CARPIO, J.
The foregoing provision has been incorporated in the comprehensive summary of existing rules on the computation of legal interest laid down by the Court in Eastern Shipping Lines, Inc. v. Court of Appeals,[31] to wit: When an obligation is breached, and it consists in the payment of a sum of money, i.e., a loan or forbearance of money, the interest due should be that which may have been stipulated in writing. Furthermore, the interest due shall itself earn legal interest from the time it is judicially demanded. In the absence of stipulation, the rate of interest shall be 12% per annum to be computed from default, i.e., from judicial or extrajudicial demand under and subject to the provisions of Article 1169 of the Civil Code.
	GR No. 190755 2010-11-24	LAND BANK OF PHILIPPINES v. ALFREDO ONG VELASCO JR., J.
As to the applicable interest rate, we reiterate the guidelines found in Eastern Shipping Lines, Inc. v. Court of Appeals:[28]
	GR No. 156038 2010-10-11	SPS. VICTORIANO CHUNG AND DEBBIE CHUNG v. ULANDAY CONSTRUCTION BRION, J.
Pursuant to our definitive ruling in Eastern Shipping Lines, Inc. v. Court of Appeals,[60] we hold that the amount of P141, 601.87 is subject to the legal interest of 6% per annum computed from the time the RTC rendered judgment on December 11, 1997 since it was the respondent who filed the complaint.[61] After the finality of this decision, the judgment award inclusive of interest shall bear interest at 12% per annum until full satisfaction.
	GR No. 179543 2010-10-06	CAMPER REALTY CORP. v. MARIA NENA PAJO-REYES CARPIO MORALES, J.
A word on the legal interest due on the reimbursement of the purchase price to Nena and her remaining co-owner Godofredo, Jr. In accordance with Eastern Shipping Lines v. Court of Appeals,[15] since the claim does not involve a loan or forbearance of money, imposition of interest rate of six percent (6%) per annum from date of filing of the complaint is in order.
	GR No. 171015 2010-08-25	CONTINENTAL WATCHMAN v. NATIONAL FOOD AUTHORITY BRION, J.
WHEREFORE, premises considered, we DENY the petition for review on certiorari and, accordingly, AFFIRM WITH MODIFICATION the Court of Appeals' decision dated July 29, 2005, and resolution dated January 5, 2006, in CA-G.R. SP No. 86303. The Regional Trial Court, Branch 88 of Quezon City is directed to immediately issue a writ of execution against Continental for the amount of P8,445,161.00 and interests thereon, computed at six percent per annum from the date that the NFA filed its motion to intervene in the David case, and at 12% per annum from the finality of this Decision.[24] Treble costs against petitioner Continental Watchman and Security Agency, Inc.
	GR No. 182398 2010-07-20	BENNY Y. HUNG v. BPI CARD FINANCE CORP. PEREZ, J.
With regard to the imposable rate of legal interest, we find application of the rule laid down by this Court in Eastern Shipping Lines, Inc. vs. Court of Appeals,[21] to wit: 2. When an obligation, not constituting a loan or forbearance of money, is breached, an interest on the amount of damages awarded may be imposed at the discretion of the court at the rate of 6% per annum. No interest, however, shall be adjudged on unliquidated claims or damages except when or until the demand can be established with reasonable certainty. Accordingly, where the demand is established with reasonable certainty, the interest shall begin to run from the time the claim is made judicially or extrajudicially (Art. 1169, Civil Code) but when such certainty cannot be so reasonably established at the time the demand is made, the interest shall begin to run only from the date the judgment of the court is made (at which time the quantification of damages may be deemed to have been reasonably ascertained). The actual base for the computation of legal interest shall, in any case, be on the amount finally adjudged.
	GR No. 172200 2010-07-06	HEIRS OF REDENTOR COMPLETO v. SGT. AMANDO C. ALBAYDA NACHURA, J.
Finally, an interest rate of six percent (6%) per annum is due on the amount of P100,000.00, as temperate damages, and P500,000.00, as moral damages, which we have awarded. The 6% per annum interest rate on the temperate and moral damages shall commence to run from the date of the promulgation of this Decision. Upon finality of the Decision, an interest rate of twelve percent (12%) per annum shall be imposed on the amount of the temperate and moral damages until full payment thereof.[55]
	GR No. 148974 2010-07-02	OMC CARRIERS v. SPS. ROBERTO C. NABUA AND ROSARIO T. NABUA PERALTA, J.
WHEREFORE, the instant petition is PARTIALLY GRANTED. The Decision of the Court of Appeals in CA-G.R. CV No. 60034 is AFFIRMED with MODIFICATION. The award of death indemnity is REDUCED to P50,000.00. The award of actual damages is hereby REDUCED to P59,173.50. The award of moral damages is likewise REDUCED to P50,000.00. The award of attorney's fees is DELETED. All other awards of the Court of Appeals are AFFIRMED. Following jurisprudence,[46] petitioners are ordered to PAY legal interest of 6% per annum from the date of promulgation of the Decision dated January 19, 1998 of the Regional Trial Court, National Capital Judicial Region, Branch 224, Quezon City and 12% per annum from the time the Decision of this Court attains finality, on all sums awarded until their full satisfaction.
	GR No. 167942 2010-06-29	ASIAN CONSTRUCTION v. CATHAY PACIFIC STEEL CORPORATION DEL CASTILLO, J.
Petitioner also contends that the CA did not adhere to the precedent set in the landmark case of Eastern Shipping Lines v. Court of Appeals[7] in the computation of interest. It further argues that respondent is not entitled to an award of attorney's fees.
	GR No. 183374 2010-06-29	MARSMAN DRYSDALE LAND v. PHILIPPINE GEOANALYTICS CARPIO MORALES, J.
Finally, an interest of 12% per annum on the outstanding obligation must be imposed from the time of demand[23] as the delay in payment makes the obligation one of forbearance of money, conformably with this Court's ruling in Eastern Shipping Lines, Inc. v. Court of Appeals.[24] Marsman Drysdale and Gotesco should bear legal interest on their respective obligations.
	GR No. 186312 2010-06-29	SPS. DANTE CRUZ v. SUN HOLIDAYS CARPIO MORALES, J.
Finally, Eastern Shipping Lines, Inc. v. Court of Appeals[40] teaches that when an obligation, regardless of its source, i.e., law, contracts, quasi-contracts, delicts or quasi-delicts is breached, the contravenor can be held liable for payment of interest in the concept of actual and compensatory damages, subject to the following rules, to wit --
	GR No. 160545 2010-03-09	PRISMA CONSTRUCTION v. ARTHUR F. MENCHAVEZ BRION, J.
Applying this provision, we find that the interest of P40,000.00 per month corresponds only to the six (6)-month period of the loan, or from January 8, 1994 to June 8, 1994, as agreed upon by the parties in the promissory note. Thereafter, the interest on the loan should be at the legal interest rate of 12% per annum, consistent with our ruling in Eastern Shipping Lines, Inc. v. Court of Appeals:[26]