G.R. No. 73345 - Social Security System vs. Moonwalk Development and Housing Corporation

Social Security System vs. Moonwalk Development and Housing Corporation

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Title Supreme Court: Social Security System vs. Moonwalk Development and Housing Corporation

Case: G.R. No. 73345

Decision Date: Apr 7, 1993

SSS demanded penalties from Moonwalk after full loan repayment and mortgage release. Courts ruled penalties unenforceable as principal obligation was extinguished, penal clauses being accessory. SSS's trust fund argument deemed inapplicable.

penalty for late payment

demand for payment

principal obligation

Standard 20 min

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