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Phil. National Bank Vs. Eugenio Veraguth 050 Phil 253

PHILIPPINE NATIONAL BANK, plaintiff-appellant, vs. EUGENIO VERAGUTH ET AL., defendants-appellees.

G.R. No. 26833 | 1927-04-01

D E C I S I O N


VILLAMOR, J.:

Plaintiff Philippine National Bank seeks to recover from the defendants jointly and severally the sum of P41,432.55, plus interest on the sum of P34,241.77, at 8 per cent per annum from February 16, 1925, until fully paid. It is alleged, as grounds for this action, that on January 18, 1919, "La Union de Agricultores de Negros y Panay, Inc.," asked for and obtained from said plaintiff a credit of P40,000 in current account, payment of which was secured by the defendants by means of a bond Exhibit A; that on September 11, 1919, the same plaintiff granted the "La Union de Agricultores de Negros y Panay, Inc.,"...