Eusebio Calderon vs.

People

Facts:

That in or about the months of May to November, 1994, Elizabeth

Eusebio-Calderon falsely pretended to have a sufficient funds with Allied
Bank, Planters Bank, and PCI Bank.

The complainants, Teresita Eusebio, Amelia Casanova and Manolito

Eusebio are the Petitioners Aunt and cousins,

May 15, 1994, Petitioner visited her Aunt Teresita to borrow Php50,000.00
and in exchange, she issued and Allied bank Check no. 16076401, post
dated November 15, 1994 in the amount of Php52,500.

May 30,1994, Petitioner again borrowed from Teresita the amount of

Php100,000.00 in exchange for which she issued allied bank check no.
16076402, Post dated November 14, 1994 in the amount of
Php105,000.00.

May 30, 1994, Amelia Casanova went to the drugstore of the petitioner
and lent her the amount of Php100,000.00 allegedly to be used for the
expansion of her business and in exchange, the petitioner issued an Allied
Bank check no. 16041982 post dated November 30, 1994 for
Php100,000.00 and six other check in various amounts to cover the
interest

November 1994, Elizabeth borrowed Php50,000.00 from Manolito which

she issued Allied Bank Check no. 16063578 dated December 6, 1994.

Court rendered judgment finding Elizabeth guilty of the crime Estafa.

April 30,2001, Court of appeals reversed and set aside the decision and a
new judgment was issued acquitting the accused of crimes charged.
However, she is held civilly liable for to pay Teresita P172,250.00, Amelia
P130,900.00 and Manolito P60,000.00. All with Interest of 12% per annum
Issue:

Whether or not the interest imposed to the petitioner is lawful or unlawful

interest.

Held:

Since there was no written proof that the payable interest except for the verbal
agreement that the loan shall earn 5% interest per month it is Unlawful interest.
Under Article 1956 of the Civil code, an agreement as to payment of interest
must be in writing, otherwise it cannot be valid.