G.R. No. 193279
"x x x.
However, conforming to prevailing jurisprudence, we find the need to modify the ruling of the CA with regard to the imposition of interest on the judgment. It has been established that in the absence of stipulation, the rate of interest shall be 12% per annum to be computed from default, that is, from judicial or extrajudicial demand under and subject to the provisions of Article 1169 of the Civil Code.[9] In Ongson v. People,[10] we held that interest began to run from the time of the extrajudicial demand, as duly proved by the creditor. Thus, petitioner should also be held liable for the amount of the dishonored check, which is ₱1,500,000, plus 12% legal interest covering the period from the date of the receipt of the demand letter on 14 May 1999 to the finality of this Decision. The total amount due in the dispositive portion of the CA’s Decision, inclusive of interest, shall further earn 12% interest per annum from the finality of this Decision until fully paid.
x xx."
