Article 1956
RA 386 · Civil Code of the PhilippinesKey provision
ELI5— what this means for you
No interest shall be due unless it has been expressly stipulated in writing. A verbal agreement for interest is not enforceable.
Key point
Interest must be agreed upon in writing — a verbal promise to pay interest is not binding.
Official text — RA 386
No interest shall be due unless it has been expressly stipulated in writing. (1755a)
Source: lawphil.net (RA 386 as amended)
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