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What is Palmares v Court of Appeals: Surety Liability about?

Petitioner Palmares co-signed a promissory note with spouses Osmeña and Azarraga for a P30,000 loan from M.B. Lending Corporation. After several payments totaling P16,300, the remaining P13,700 was not paid. The corporation filed a complaint against only Palmares since the other borrowers were insolvent. The RTC dismissed the complaint but the CA reversed, finding Palmares primarily liable as a co-maker. The Supreme Court held that Palmares was actually a surety with subsidiary liability, not a co-maker, ba

Author

gel94

Language

EN