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Simeon Sadaya vs. Francisco Sevilla

INTESTATE ESTATE OF VICTOR SEVILLA, SIMEON SADAYA, petitioner, vs. FRANCISCO SEVILLA, respondent.

G.R. No. L-17845 | 1967-04-27

D E C I S I O N 


SANCHEZ, J.: 

On March 28, 1949, Victor Sevilla, Oscar Varona and Simeon Sadaya executed, jointly and severally, in favor of the Bank of the Philippine Islands, or its order, a promissory note for P15,000.00 with interest at 8% per annum, payable on demand. The entire amount of P15,000.00 proceeds of the promissory note, was received from the bank by Oscar Varona alone. Victor Sevilla and Simeon Sadaya signed the promissory note as co-makers only as a favor to Oscar Varona. Payments were made on account. As of June 15, 1950, the outstanding balance stood at P4,850.00. No payment was thereafter made. 

On October...