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Salvador Chua & Violet Achua Vs. Rodrigo Timan & Ma. Lynn Timan & Lydia Timan

SALVADOR CHUA and VIOLETA CHUA, Petitioners, versus RODRIGO TIMAN, MA. LYNN TIMAN and LYDIA TIMAN, Respondents.

G.R. No. 170452 | 2008-08-13

DECISION 

QUISUMBING, J.: 

Before us is a petition for review on certiorari assailing the Decision[1] and Resolution[2] dated March 9, 2005 and November 24, 2005, respectively, of the Court of Appeals in CA-G.R. CV No. 82865, which had affirmed the Decision[3] dated May 14, 2004 of the Regional Trial Court (RTC) of Quezon City, Branch 86, in Civil Case No. Q-00-41276. The Court of Appeals reduced the stipulated original interest rates of 7% and 5% per month to only 1% per month or 12% per annum and ordered petitioners to refund the excess interest payments by respondents. 

The pertinent facts are as follows: 

In February...