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What is Palmares Liability as Surety Explained about?

Petitioner Estrella Palmares co-signed a promissory note with spouses Osmeña and Merlyn Azarraga for a P30,000 loan. After several partial payments, P13,700 remained unpaid. Respondent corporation sued only Palmares, claiming the Azarraga spouses were insolvent. The RTC dismissed the case, finding Palmares was secondarily liable. The appellate court overruled, declaring Palmares a surety as she was jointly and severally liable. The Supreme Court affirmed, finding that as a surety, Palmares was bound equally

Author

Ahmad_deedatt03

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EN