G.R. No. 154878 - Garcia vs. Thio

Garcia vs. Thio

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Title Supreme Court: Garcia vs. Thio

Case: G.R. No. 154878

Decision Date: Mar 16, 2007

Carolyn Garcia sued Rica Thio for unpaid loans of US$100,000 and P500,000. Thio denied liability, claiming she facilitated the loans for a third party. The Supreme Court ruled Thio liable for the principal amounts but voided the high interest rates, imposing 12% legal interest instead.

loan

interest rates

legal interest

Standard 14 min

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