About this document
Manila Banking Corp. v Teodoro Case Summary by Kenneth Peter Molave is a document available to read on EtoBox.
The Supreme Court dismissed the appeal from spouses Teodoro against Manila Banking Corp regarding unpaid loans. The Court found that: 1) The 1964 assignment of receivables to MBC was intended as collateral security for loans and did not release the spouses from their debt obligations. 2) MBC was not required to exhaust all legal remedies against the Philippine Fisheries Commission before proceeding against the spouses, as the spouses remained the principal debtors.
- Author
- Kenneth Peter Molave
- Language
- EN