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Manila Banking Corp vs. Teodoro Case Summary by Latrell Marcus is a document available to read on EtoBox.

What is Manila Banking Corp vs. Teodoro Case Summary about?

The Supreme Court ruled that: 1) The assignment of receivables by Teodoro Jr did not have the effect of paying off the loans taken by the spouses. At most, it was intended as collateral security for the loans as a continuing guaranty. 2) MBC was not required to exhaust all legal remedies against the Philippine Fisheries Commission before proceeding against the spouses. The spouses remained the principal debtors to MBC rather than mere guarantors. 3) The case was dismissed, with MBC finding the loans ultim

Author

Latrell Marcus

Language

EN