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What is DBP Loan Case: Confesor v. Villafuerte about?

1) Spouses Confesor and Villafuerte obtained an agricultural loan in 1940 and executed a promissory note to repay it over 10 years, but the debt remained unpaid. In 1961, Confesor executed a second promissory note acknowledging the outstanding debt and promising to pay it by June 1961. 2) The court held that prescription does not discharge a debt if there is acknowledgment of the debt by the debtor, as in this case with the second promissory note. The pre-existing obligation from the first note was suffic

Author

Maria Isabella Miralles

Language

EN