CASE 2020-0003: ROBERTO R. IGNACIO AND TERESA R. IGNACIO DOING BUSINESS UNDER THE NAME AND STYLE TERESA R. IGNACIO ENTERPRISES VS. MYRNA P. RAGASA AND AZUCENA B. ROA (G.R. NO. 227896. JANUARY 29, 2020) (BRIEF TITLE: IGNACIO ET AL VS RAGASA ET AL)

 

 DISPOSITIVE:

 

CASTILLO-DISPO

 

 SUBJECTS/DOCTRINES/DIGEST:

 

WHAT HAPPENED IN THIS CASE?

 

PETITIONERS IGNACIO HIRED RESPONDENTS TO LOOK FOR A BUYER FOR THEIR PROPERTIES.

 

RESPONDENTS FOUND A BUYER AND INTRODUCED THEM TO PETITIONERS. THEN  PETITIONERS STOPPED COMMUNICATING WITH THE RESPONDENTS. LATER, RESPONDENTS LEARNED THAT PETITIONERS ENTERED INTO JOINT VENTURE AGREEMENT WITH THEIR BUYER TO DEVELOP THE PROPERTIES. THEY DEMANDED THEIR COMMISSION FROM THE PETITIONERS WHO REFUSED TO GIVE THEM COMMISSION ON THE GROUND THAT IT WAS ANOTHER BROKER WHO NEGOTIATED WITH THE BUYER FOR THE EXECUTION OF THE JOINT VENTURE AGREEMENT. THE SUPREME COURT RULED THAT THE RESPONDENTS ARE ENTITLED TO COMMISSION BECAUSE THEIR EFFORTS WERE THE PROXIMATE CAUSE OF THE TRANSACTION BETWEEN THE PETITIONERS AND THE BUYER/DEVELOPER. THE COURT ALSO DISCUSSED THE ISSUE ON THE PROPER INTEREST ON THE DAMAGES  IMPOSED. THE SC ALSO DISCUSSED THE EXCEPTIONS TO THE RULE THAT ONLY LEGAL ISSUES CAN BE RAISED IN THE SUPREME COURT.

 

 CASTILLO-PROXIMITY

 

WHAT IS THE RULE ON THE APPLICATION OF LEGAL RATE OF INTEREST?

 

CASTILLO-INTEREST 1

 

CASTILLO-INTEREST 2

CASTILLO-INTEREST 3 

 

 WHAT IS THE LEGAL RATE OF INTEREST IN THE CONTEXT OF THE USURY LAW?

 

6% TO BE APPLIED NOT RETROSPECTIVELY FROM 01 JULY 2013.

 

 

CASTILLO-INTEREST

 

WHAT IS MEANT BY FORBEARANCE? WHAT IS FORBEARANCE OF MONEY GOODS OR CREDIT?

 

IT IS AN OBLIGATION OF THE LENDER TO REFRAIN DURING A GIVEN PERIOD FROM REQUIRING THE BORROWER TO REPAY THE LOAN.

  

FOREBEARANCE OF MONEY, GOODS OR CREDIT IS AN ARRANGEMENT WHERE A PERSON ACQUIESCES TO THE TEMPORARY USE OF HIS MONEY, GOODS OR CREDIT PENDING HAPPENING OF CERTAIN CONDITIONS.

 

CASTILLO-FORBEARANCE

 EXCEPTIONS TO THE RULE THAT ONLY LEGAL ISSUES BE RAISED IN THE SUPREME COURT?

 

CASTILLO-EXCEPTIONS

 

 

TO READ THE DECISION, JUST CLICK/DOWNLOAD THE FILE BELOW. IF FILE DOES NOT APPEAR ON SCREEN GO TO DOWNLOAD. IT IS THE FIRST ITEM. OPEN IT.

 

SCD-2020-0003-Roberto R. Ignacio and Teresa R. Ignacio doing business under the name and style Teresa R. Ignacio Enterprises Vs. Myrna P. Ragasa and Azucena B. Roa

 

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