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L.M. Handicraft Manufacturing Corporation, Et Al. Vs. Court Of Appeals, Et Al.

L.M. HANDICRAFT MANUFACTURING CORPORATION, LEOVIGILDO M. DIAPO, JR., VIRGILITA M. DIAPO AND LEONORA Q. MABASA, petitioners, vs. HON. COURT OF APPEALS AND ALLIED BANKING CORPORATION, respondents.

G.R. Nos. 90047 | 1990-06-18

D E C I S I O N


GANCAYCO, J.:

These two petitions originated from an action to collect sums of money with damages filed by Allied Banking Corporation against L.M. Handicraft Manufacturing Corporation, Leovigildo M. Diapo, Jr., Virgilita M. Diapo and Leonora Q. Mabasa. The complaint filed by the said bank is based on 20 promissory notes executed by L.M. Handicraft Manufacturing Corporation and guaranteed by the three above-named persons which were either not paid or not fully paid despite formal demands.

After due trial, the lower court rendered a Decision favorable to the Allied Banking Corporation dated January 4, 1988 with the...