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Eastern Assurance & Surety Corp vs Hon CA, Hon. Teofisto Calumpan

EASTERN ASSURANCE AND SURETY CORPORATION (EASCO), petitioner, vs. HON. COURT OF APPEALS, HON. TEOFISTO L. CALUMPANG, in his capacity as Presiding Judge of the Regional Trial Court of Dumaguete City, Branch 40, and VICENTE TAN, respondents.

G.R. No. 127135 | 2000-01-18

D E C I S I O N


MENDOZA, J.:

This is a petition for review of the decision of the Court of Appeals,1 [Per Justice Angelina Sandoval Gutierrez and concurred in by Justices Arturo B. Buena (now Associate Justice of the Supreme Court) and Conrado M. Vasquez, Jr.] the dispositive portion of which reads:2 [Decision, p. 6; Rollo, p. 29.]

WHEREFORE, the petition is hereby GIVEN DUE COURSE and is GRANTED. The legal interest rate to be paid by petitioner EASCO to the private respondent is 6% per annum on the amount due corresponding to the period from June 26, 1981 to August 24, 1993; and 12% per annum beginning August 25, 1993 until the money...