Practice question
Under Article 1956, conventional interest for the use of loaned money must be what?
- Expressly stipulated in writing
- Presumed from every loan automatically
- Fixed only by the lender's private thought
- Always twelve percent regardless of agreement
- Payable only in foreign currency
Legal references
- Civil Code Articles 1169, 1956, 1959, 2209 and 2212: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- Nacar v. Gallery Frames, GR 189871, August 13, 2013, main decision: https://lawphil.net/judjuris/juri2013/aug2013/gr_189871_2013.html
- Lara's Gifts & Decors v. Midtown Industrial Sales, GR 225433, September 20, 2022, main resolution: https://lawphil.net/judjuris/juri2022/sep2022/gr_225433_2022.html
Answer this question in flashcards to review your response and continue practicing.