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Juan De Rotaeche Vs. "La Urbana 052 Phil 299

JUAN DE ROTAECHE, plaintiff-appellant, vs. "LA URBANA," Mutual Building and Loan Association, defendant-appellee.

G.R. No. 29077 | 1928-10-27

D E C I S I O N


ROMUALDEZ, J.:

The plaintiff being a common-stock holder of the defendant, applied for and obtained from the same a loan of P7,000 for ten years, executing the proper mortgage deed, acknowledging an indebtedness to defendant of P8,050, of which P7,000 represents the loan obtained, and the P1,050, the 15 per cent premium for the ten years fixed by the board of directors of the defendant.
The plaintiff, however, does not consider himself bound to pay the premium for the whole ten years, but only for one year, that is, the sum of P150. Hence, of the P1,050 which he paid for premiums, he claims the sum of P900 in this action...