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Petitioner Garcia and Eduardo De Jesus borrowed P400,000 from respondent and executed a promissory note making them jointly and severally liable. Garcia argued he signed as an accommodation party for De Jesus and was not liable since the loan was paid, but the court held that as an accommodation party under the Negotiable Instruments Law, Garcia was still liable to the holder for value even if the holder knew he was an accommodation party. The court also held that the relationship between an accommodation p

Author

Kling King

Language

EN