This case has been cited 1 times or more.
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2014-09-08 |
DEL CASTILLO, J. |
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| The situation that it was the debtor who insisted on the interest rate will not exempt Rolando from a ruling that the rate is void. As this Court cited in Asian Cathay Finance and Leasing Corporation v. Gravador,[32] "[t]he imposition of an unconscionable rate of interest on a money debt, even if knowingly and voluntarily assumed, is immoral and unjust. It is tantamount to a repugnant spoliation and an iniquitous deprivation of property, repulsive to the common sense of man."[33] Indeed, "voluntariness does not make the stipulation on [an unconscionable] interest valid."[34] | |||||