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What is Piczon v. Piczon: Guarantor Defined about?

Consuelo Piczon sued Esteban Piczon to recover a loan of P12,500 that Sosing-Lobos & Co. obtained from Piczon Co. Inc. Esteban Piczon was the president of Sosing-Lobos and agreed to act as a guarantor for the loan, which was used as a cash deposit for SEC registration. The court ruled in favor of Consuelo Piczon, ordering Esteban Piczon and Sosing-Lobos to repay the loan plus 12% annual interest. The issue was whether Esteban Piczon was a surety or guarantor. The court held that Esteban Piczon expressly bou

Author

Xander 4th

Language

EN