FACTS:

The  petitioner  entered  into  a  Credit  Facilities  agreement  with  Interbank.  This   is   secured   by   a   promissory   note,   trust   receipts,   security arrangements, which included provisions on payment of attorney’s fees and costs  of  collection  in  case  of  default.    The  petitioner  failed  to  pay.    A compromise agreement was entered into by the parties but this agreement failed to include the attorney’s fees and costs of collection.  The trial court reduced the percentage of attorney’s fees in its decision.
 

HELD:

The courts may modify the attorney’s fees previously agreed upon where the  amount  appears  to  be  unconscionable  and  unreasonable.  For  the  law recognizes  the  validity  of  stipulations  included  in  documents  such  as negotiable instruments and mortgages with respect.  The fees in this case are reasonable and fair.