This case has been cited 3 times or more.
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2010-06-16 |
ABAD, J. |
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| One. Unless the terms of a contract are against the law, morals, good customs, and public policy, such contract is law between the parties and its terms bind them.[12] In Felsan Realty & Development Corporation v. Commonwealth of Australia,[13] the Court regarded as valid and binding a provision in the lease contract that allowed the lessee to pre-terminate the same when fire damaged the leased building, rendering it uninhabitable or unsuitable for living. | |||||
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2007-10-11 |
NACHURA, J. |
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| Considering that the parties entered into a contract, it shall constitute the law between them.[17] The agreement between the parties is the formal expression of the parties' rights, duties and obligations.[18] Being the primary law between the parties, it governs the adjudication of their rights and obligations.[19] When the terms of the contract are clear and leave no room for interpretation, the literal meaning of its stipulations shall, therefore, control.[20] A court has no alternative but to enforce the contractual stipulations in the manner they have been agreed upon and written.[21] The petitioner was, therefore, bound to respect the decision of the respondent not to continue on with the lease. Absent any allegation that a stipulation is contrary to law, morals, good customs, public order or public policy, it must be complied with in good faith.[22] | |||||
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2006-04-19 |
YNARES-SANTIAGO, J. |
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| While a contract is the law between the parties,[18] it is also settled that an existing law enters into and forms part of a valid contract without the need for the parties expressly making reference to it.[19] Thus, the lower courts correctly applied Article 2212 of the Civil Code as the basis for the imposition of the legal interest on the stipulated interest due. It reads:Art. 2212. Interest due shall earn legal interest from the time it is judicially demanded, although the obligation may be silent upon this point. | |||||