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Suretyship Liability in Loan Agreements by Jude Chicano is a document available to read on EtoBox.
The case involved two documents: [1] A Continuing Suretyship agreement signed by petitioner to secure loans of up to P2,000,000 for Raul Arroyo from respondent bank. The agreement stipulated solidary liability for the surety. [2] A promissory note for the loan with 19% annual interest compounded monthly and additional 2% penalty per month for overdue amounts. Raul Arroyo defaulted and petitioner received demand for payment of over P7 million. The court held petitioner was bound by the suretyship agreement t
- Author
- Jude Chicano
- Language
- EN