1. Spouses del Rosario (herein respondents), jointly and severally executed, signed and delivered in favor of Radiowealth Finance Company a Promissory Note for P138,948.
2. Thereafter, respondents defaulted on the monthly installments. Despite repeated demands, they failed to pay their obligations under their Promissory Note.
3. Petitioner claims that respondents are liable for the whole amount of their debt and the interest thereon, after they defaulted on the monthly installments.
4. Respondents, on the other hand, counter that the installments were not yet due and demandable. Petitioner had allegedly allowed them to apply their promotion services for its financing business as payment of the Promissory Note. This was supposedly evidenced by the blank space left for the date on which the installments should have commenced.
1. W/N leaving the date/period blank for the monthly installments cancels out the obligation to pay in obligations with a period
2. W/N the obligation has become due and demandable despite the period to pay the obligation left blank
1. NO, If this was the intention of the parties, they should have so indicated in the Promissory Note. However, it did not reflect any such intention.
2. YES, SC said, onvincingly, petitioner has established not only a cause of action against the respondents, but also a due and demandable obligation.
WHEREFORE, the Petition is GRANTED.