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

Full article text is being added. Read the official text at officialgazette.gov.ph.

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