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What is 1989 Bonds Validity in Surety Case about?

1) Country Bankers issued surety bonds in 1989 to insure a warehouse storing palay owned by Santos. Lagman acted as surety on these bonds. 2) When Santos defaulted on a loan using the palay as collateral, Country Bankers had to pay out under the surety bonds. It sued Lagman to recover these payments. 3) Lagman argued the 1989 bonds were superseded by a 1990 bond that did not include him as a party. However, the Court found the photocopy of the alleged 1990 bond presented by Lagman was inadmissible, as h

Author

Jhon Anthony Briones

Language

EN