Which of the following is correct if the interest rate in a loan is void?

Related MCQs

• A & B entered into a contract of loan in the amount of P1M with interest at 192% per annum. When the obligation became due and demandable B failed to pay despite demand, hence, A filed a complaint against B. On the interest rate, what is a valid contention of B?
• Gody obtained a loan from Eusebio in the amount of PhP10,000.00 payable on June 30, 2005 plus 10% interest. On January 2, 2005, Gody won PhP100, 000.00 in a bingo game and he offered to pay PhP10,000.00 to Eusebio. Eusebio refused to accept the payment offered by Gody. Which of the following statements is correct?
• A entered into a contract of loan with a bank. They stipulated that if there will be a law or BSP circular that will allow the increase in the interest rate, the bank will increase it. Is the stipulation valid?
• Mr. X pledged his gold watch to Mr. Y as security for a loan. The loan was not paid.
• A and B are married. They are governed by the conjugal partnership of gains. A, the Executive Vice-President of ABC Corp. signed as a surety in a loan secured by the company from Metrobank for the rehabilitation of the company. As business was good after rehabilitation, A was given a house and lot, a brand new caw and raise in his salary. The company was sued due to its failure to pay the loan. Are the properties of A and B liable?
• A borrowed money from B. As security for the payment of the loan, he executed a chattel mortgage on the building erected on his land and the machinery stored therein. For failure to pay the loan, he was sued and a judgment was rendered against him, where the building and the machinery were levied upon. Is the chattel mortgage binding upon C, the plaintiff?
• X brought a house and lot from Y valued at P5M. He paid P3M and for the balance, he executed a promissory note with interest at 10% to be paid within 90 days. ABC Corporation executed a surety for the balance. X failed to pay, hence, ABC paid the amount and sued X for the interest and the principal. X contended that he is not bound due to novation when Y accepted the security. Is X correct?
• The borrower in a contract of loan or mutuum must pay interest to the lender.
• A & B are married with children C & D, but were living separately from one another. A got married to E and begot children, F & G. After his death, E, F & G filed a petition for settlement of his estate. B, C &D intervened to claim their share of the estate and contended that since F & G are illegitimate as the marriage of A & E is void, their share is only ½ of the share of the legitimates. Is the contention correct?
• A is the owner of a parcel of land covered by TCT No. 1. He leased it to B. When sued for ejectment, B contended that A’s title is void. Is he correct?