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Republic of the Philippines

8 Judicial Region
MUNICIPAL CIRCUIT TRIAL COURT IN CITIES
xx
th

MILLENIUM CASH FINANCE, CO.,


Rep. by JASONN REY SAMILO,
Plaintiff;
Civil Case No. 2016-06-SC-01
For:
-versusCollection of Sum of Money
TERESITA DELOS REYES CAIMBRE,
Defendant.
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DECISION
This is a Judgment based on the Statement of Claims for failure of the
defendant to file answer and to appear on the scheduled hearing of this case despite
notice. This is a small claims action for money owed under a Contract of Loan.
Plaintiff in its Statement of Claims, claims that defendant owes it money in
the amount of P51,620.00.
Attached with the Statement of Claims are Special Power of Attorney,
Secretarys Certificate, Demand Letters (dated 22 January 2016 and 22 March
2016), Registry Return Receipt, Promissory Note (dated 10/21/2015), Certificate
of Incorporation, and Certificate of Filing of Amended Articles of Incorporation.
The issue to be resolved by this court is whether or not defendant is liable to
plaintiff the amount stated in the complaint.
Ruling
The obligation of defendant to pay plaintiff in the amount of P51,620.00. is
undisputed. This is the balance payable to plaintiff after deducting the amount paid
by defendant.
Basic is the law on obligations and contracts, to wit:
Art. 1159. Obligations arising from contracts have the force of law between the
contracting parties and should be complied with in good faith.

Moreover, under paragraph 3 of the Promissory Note: The following events


shall be considered events of default on the loan covered by this Note, in which
cases, the whole sum remaining unpaid under this Note shall be thereupon become
immediately due and payable, at the option of the MILLENIUM CASH FINANCE
COMPANY, INC.
a.
failure to pay the loan, any installment or interest on the maturity or
due date thereof.
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In this case, the court is bound to believe the allegations of the plaintiff on its
right to recover payment from the defendant, there being no statements to the
contrary to the defendant. Defendants failure to submit answer and appear before
the court is deemed a waiver to contest the claim of plaintiff.
WHEREFORE, plaintiffs Statement of Claims is granted. Defendant is ordered to
pay to plaintiff the amount of fifty-one thousand six hundred twenty pesos
(P51,620.00), representing the balance of her loan with the plaintiff, plus six
percent (6%) per annum from finality of this judgment until fully paid.
SO ORDERED.
Tacloban City, June 24, 2016.
xx
Presiding Judge
Copy furnished:
All parties
Office of the Clerk of Court

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