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Philippine Bank of Communications vs. Elena Lim, et al.

PHILIPPINE BANK OF, COMMUNICATIONS, Petitioner, versus ELENA LIM, RAMON CALDERON, and TRI-ORO INTERNATIONAL TRADING & MANUFACTURING CORPORATION, Respondents.

G.R. No. 158138 | 2005-04-12

D E C I S I O N 


PANGANIBAN, J.: 

A restrictive stipulation on the venue of actions contained in a promissory note applies to the surety agreement supporting it, because the nature of the two contracts and the factual circumstances surrounding their execution are intertwined or interconnected. The surety agreement is merely an accessory to the principal loan agreement embodied in the promissory note. Hence, the enforcement of the former depends upon the latter. 


The Case 

Before us is a Petition for Review[1] under Rule 45 of the Rules of Court, assailing the April 29, 2003 Decision[2] of the Court of Appeals (CA) in...