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Astro Electronics Corp. obtained loans from Philtrust secured by promissory notes signed by Peter Roxas in both his capacity as President and personally. The court ruled that Roxas is solidarily liable for the loans due to his dual signatures, making him a co-maker of the promissory notes. Consequently, Roxas cannot escape liability for the debts incurred by Astro, as his intention to be liable is clear from his signatures on the notes.

Author

Ella Espenesin

Language

EN