Back

H. R. Andreas Vs. B. A. Green 048 Phil 463

H. R. ANDREAS, administrator with the will annexed of the estate of Harry Bridge, plaintiff-appellee, vs. B. A. GREEN, defendant-appellant.

G.R. No. 24322 | 1925-12-16

D E C I S I O N


MALCOLM, J .:

The defendant and appellant questions the clause in the promissory note sued on reading "and a further sum equal to 10 per cent of the total amount due as and for expenses of collection for attorney's fees whether actually incurred or not," as in contravention of the Usury Law. The full text of the said note is as follows:

"P15,000.00
MANILA, P. I.
"Aug. 19th, 1921

"On or before the 19th day of November, 1921, or on thirty (30) days written demand notice, for value received, I promise to pay to Harry Bridge, at Manila, P. I., the sum of fifteen thousand pesos (P15,000) with interest thereon at the rate...