Case Digest on Obligations and Contracts: Reformation of Document - First Fil-Sin Lending Corp. v. Gloria Padillo G.R. No. 160533
First Fil-Sin Lending Corp. v. Gloria Padillo G.R. No. 160533, January 12, 2005 Facts: On July 22, 1997, respondent Padillo obtained a P500,000.00 loan from petitioner First Fil-Sin Lending Corp. On September 7, 1997, respondent obtained another P500,000.00 loan from petitioner. In sum, she has paid a total of P792,500.00 for the first loan and P775,000.00 for the second loan. On January 27, 2000, respondent filed an action for sum of money against petitioner , alleging that she only agreed to pay interest at the rates of 4.5% and 5% per annum respectively, for the two loans, and not 4.5% and 5% per month. Respondent sought to recover the amounts she allegedly paid in excess of actual obligations. Ruling: The petition is impressed with merit. The loan obligations provide for per annum interest rates. Reformation cannot be resorted to as the documents have not been assailed on the ground of mutual mistake. When a party sues on a written contract and no attempt is ...