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Shannon, et al vs. Phil. Lumber & Transportation Co.

J. W. SHANNON and MRS. J. W. SHANNON, plaintiffs-appellees, vs. THE PHILIPPINE LUMBER & TRANSPORTATION CO., INC., and E. E. ELSER, defendants. E. E. ELSER, appellant.

G.R. No. 41795 | 1935-08-30

D E C I S I O N


IMPERIAL, J:

On March 1, 1926, the Philippine Lumber & Transportation Co., Inc., obtained a loan of P12,000 from Mrs. J. W. Shannon and executed a note promising to pay the said sum to the creditor or to her husband, J. W. Shannon, on or before March 1, 1927, with interest at 10 per cent per annum, payable monthly and in advance on the first day of each month. The obligation with its terms was secured, jointly and severally, by Walter E. Jones and E. E. Elser jointly and severally, by Walter E. Jones and E. E. Elser who signed the note. This note was ratified before the notary public, Juan L. Diaz, in the City of Manila,...