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20 Guaranty and Suretyship PNB Vs Macapanga Producers
20 Guaranty and Suretyship PNB Vs Macapanga Producers
LABRADOR, J.:
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2/12/2018 PHILIPPINE REPORTS ANNOTATED VOLUME 099
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2/12/2018 PHILIPPINE REPORTS ANNOTATED VOLUME 099
"ART. 2047. * * *
If a person binds himself solidarily with the principal debtor,
the provisions of section 4, Charter 3, Title I of this Book shall be
observed. In such case the contract is called a suretyship." (Civil
Code.)
"The sureties on the superedeas bond given in this particular
case, were jointly and severally liable with principal debtor and
that an execution against the property of the principal." (Molina
vs. De la Riva, et al., 7 Phil., 354.)
"Article 1822, invoked by the appellant, provides that if the
surety bound himself jointly with the principal debtor, the
provisions of section fourth, chapter third, title first of this book
shall be observed,' that is of book fourth of the Civil Code. Section
fourth of the chapter title, and book mentioned provides that 'a
creditor may sue any of the joint debtor or all of them
simultaneously.' (Art. 1144). In conformity with this provision, the
sureties Pua Ti and Yap Chatco having bound themselves in
sodium (jointly and severally) with the principal debtor Pua Te
Ching, the creditor, that is, the Chinese Chamber of Commerce,
amy sue any of them or all of them simultaneously; which is what
The Chinese Chamber of Commerce did in filling suit against the
joint and several debtors."
"As the principal's debtors obligation is valid and has not been
satisfied by his estate, and as the defendant sureties bound
themselves solidarily, article 1144 of the Civil Code is applicable,
which provides as follows:
The creditor may sue any of the solidary debtors or all of them
simultaneously. An action instituted against one shall not be a
bar to those which may be subsequently brought against the
others, as long as the debt has not been entirely satisfied. (Molina
vs. De le Riva, 7 Phil., 345.; Chinese Chamber of Commerce vs.
Pua Te Ching, 16 Phil., 406; Inchausti & Co. vs. Yulo, 34 Phil.,
978.)" (Ferre vs. Lopez and Santos, 56 Phil., 592.)
183
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2/12/2018 PHILIPPINE REPORTS ANNOTATED VOLUME 099
Order reversed.
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