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What is Corporate Liability in Trust Receipts about?

1) Jose Tupaz, an officer of El Oro Corporation, signed two trust receipts jointly and severally with the corporation for commercial letters of credit from the Bank of the Philippine Islands (BPI). 2) The court found that as a corporate officer signing jointly, Tupaz was only liable as a guarantor, not solidarily liable with the corporation. However, as a guarantor Tupaz was still liable for the corporation

Author

aspiringlawyer1234

Language

EN