[ G.R. No. 222455, September 18, 2019 ]
GERRY S. MOJICA, PETITIONER, VS GENERALI PILIPINAS LIFE ASSURANCE COMPANY, INC., RESPONDENT.
CONCURRING AND DISSENTING OPINION
CAGUIOA, J.:
I reiterate my position in my Concurring and Dissenting Opinion in Lara's Gifts & Decors, Inc. v. Midtown Industrial Sales, Inc.,1 and hold that:
1. Although unpaid monthly drawing allowances are not loans or forbearances2 of money, goods, or credit, parties are free to stipulate on the payment of interest under the principle of autonomy of contracts.3 Hence, I agree with the ponencia that the stipulated rate of 12% should be applied until full payment because it is the law between the parties.4 However, while I agree that Article 22125 of the Civil Code applies to the stipulated interest that has already accrued on the unpaid monthly drawing allowances at the time of judicial demand (the last paragraph of the dispositive portion), I find that the 6% per annum legal rate provided under Article 2209 in relation to Article 2212 of the Civil Code should instead be applied.6
2. Further, I note that unpaid health maintenance insurance dues, group premium for hospitalization, and other payables are likewise not loans or forbearances of money, goods, or credit. Hence, it is not subject to the BSP-prescribed interest rate of 12% per annum7 In addition, I find that no compensatory interest under Article 2212 of the Civil Code (the last paragraph of the dispositive portion) is due on the unpaid Health Maintenance Insurance dues, group premium for hospitalization, and other payables as no interest has been stipulated.8 The Court has held that "Article 2212 contemplates the presence of stipulated or conventional interest, i.e., monetary interest, which has accrued when demand was judicially made. In cases where no monetary interest had been stipulated by the parties, no accrued monetary interest could further earn compensatory interest upon judicial demand."9
WHEREFORE, I vote that the Decision dated October 31, 2014 of the Court of Appeals in CA-G.R. CV No. 96584 be AFFIRMED with MODIFICATION as follows:
Petitioner Gerry S. Mojica is ordered to pay respondent Generali Pilipinas Life Assurance Company, Inc. the following:
1. Five Hundred Eight Thousand Six Hundred Thirty-One and 5/100 Pesos (P508,631.05) representing the unpaid monthly drawing allowances plus stipulated interest at 12% per annum to be computed from March 6, 2003, the date of extra-judicial demand, until full payment; and interest on the stipulated interest due that has accrued thereon from extrajudicial demand to judicial demand, at the rate of 6% per annum from September 28, 2004, the date of judicial demand, until full payment.
2. Six Thousand Eight and 12/100 Pesos (P6.008.12) representing unpaid Health Maintenance Insurance dues, group premium for hospitalization, and other payables plus legal interest at the rate of 6% per annum to be computed from extrajudicial demand until full payment.
SO ORDERED.
Footnotes
1 G.R. No. 225433, August 28. 2019.
2 J. Caguioa, Concurring and Dissenting Opinion, G.R. No. 225433, August 28, 2019, p. 48. "A forbearance is (1) an agreement or contractual obligation (2) to refrain from enforcing payment or to extend the period for the payment of (3) an obligation that has become due and demandable. (4) in return for some compensation or interest."
3 CIVIL CODE, Art. 1306.
4 Ponencia, p. 10.
5 ART. 2212. Interest due shall earn legal interest from the time it is judicially demanded, although the obligation may be silent upon this point.
6 See J. Caguioa, Concurring and Dissenting Opinion, supra note 2, at 49, paragraph II(a) of the Guidelines on the Imposition of Interest, which states:
II. All Other Monetary Obligations Not Constituting Loans or Forbearances
A. If the parties stipulate on the payment of interest and the rate thereof, the interest due shall be that which has been stipulated. Such interest shall run in accordance with the parties' agreement, or in default thereof, from extrajudicial or judicial demand, and shall continue to run until full payment.ℒαwρhi৷ Such stipulated interest shall, except as otherwise provided, be controlling as the compensatory interest. In addition, any stipulated interest that has accrued at the time of judicial demand shall itself earn interest from judicial demand until full payment at the 6% per annum legal rate provided under Article 2209 in relation to Article 2212 of the Civil Code.
7 See Reformina v. Tomol, Jr., 223 Phil. 472 (1985); National Power Corp. v. Angas, 284-A Phil. 39 (1992).
8 See Ponencia, p. 11.
9 Isla v. Estorga, G.R. No. 233974, July 2, 2018, p. 7; see also Hun Hyung Park v. Eung Won Choi, G.R. No. 220826, March 27, 2019, p. 17.
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