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1) The defendants obtained loans totaling P80,000 from the bank but failed to repay despite demands, owing P539,638.96. 2) The issue was whether the trial court erred in dismissing the collection case for lack of cause of action as the bank was not the note "holder". 3) The court held that as an accommodation party who co-signed the notes without receiving value, the petitioner was jointly and severally liable regardless of whether the bank proceeded against him or the principal debtor. However, the petiti

Author

Jay Cruzat

Language

EN