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Lara's Gifts & Decors, Inc. vs. Midtown Industrial Sales, Inc. [CONCURRING AND DISSENTING OPINION, CAGUIOA, J.]

LARA'S GIFTS & DECORS, INC., PETITIONER, VS. MIDTOWN INDUSTRIAL SALES, INC., RESPONDENT.

G.R. No. 225433 | 2019-08-28

CONCURRING AND DISSENTING OPINION
 
CAGUIOA, J.:

The proper application of the confusing laws and jurisprudence on 1) the imposable interest rate, i.e., the 12% rate of interest per annum previously prescribed by the then Central Bank of the Philippines (Central Bank), now Bangko Sentral ng Pilipinas (BSP) pursuant to Act No. 2655, as amended (Usury Law) vis-a-vis the 6% legal interest rate per annum imposed as compensatory interest under Article 2209 of the Civil Code, and 2) the periods covered by the same, has long plagued the Bench and the Bar.

As discussed below, I see the issue...