Dear PAO,

My friend asked me if I could lend her some money because she needs it to apply to work abroad. I agreed to lend her a certain amount, and we formalized our agreement in writing. The amount of the loan is P200,000, which should be paid on Oct. 15, 2024. We also agreed that failure to pay the full amount on the due date would result in a 6 percent penalty interest. But on October 15, she offered to pay P100,000, stating that she could not pay the full amount due to financial problems. She insisted that I accept the partial payment to stop the penalty interest. I want to know if my friend can compel me to accept the P100,000 as a partial payment of her debt.

Register to read this story and more for free.

Signing up for an account helps us improve your browsing experience.

Continue

OR

See our subscription options.

Already have an account? Log in here