Practice question
A draft letter demands a conventional loan rate never expressly stipulated in writing and says all interest is necessarily impossible if that demand is deleted. Explain the needed correction.
Legal references
- Civil Code, Articles1244,1246,1248,1251,1956: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/53360
- Civil Code Article2209, interest as damages distinct from stipulated conventional interest: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/53360
Answer this question in flashcards to review your response and continue practicing.