7/23/2019 Credit Trans Notes II

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1. Piczon v. Piczon

That I, ESTEBAN PICZON, of legal age, married, Filipino, and reident of and !ith potal

addre in the m"ni#ipalit$ of Cat%alogan, Pro&in#e of Samar, Philippine, in m$

#apa#it$ a the Preident of the #orporation 'no!n a the (SOSIN)*+OBOS and CO.,

INC.,( a #ontrolling to#'holder, and at the ame time a g"arantor for the ame, do %$thee preent #ontra#t a loan of T!el&e Tho"and Fi&e "ndred Peo -P1,/00.00,

Philippine C"rren#$, the re#eipt of !hi#h i here%$ a#'no!ledged, from the (Pi#2on and

Co., In#.( another #orporation, the main o3#e of the t!o #orporation %eing in

Cat%alogan, Samar, for !hi#h I "nderta'e, %ind and agree to "e the loan a "ret$ #ah

depoit for regitration !ith the Se#"ritie and E4#hange Commiion of the

in#orporation paper relati&e to the (Soing*+o%o and Co., In#.,( and to ret"rn or pa$ the

ame amo"nt !ith T!el&e Per Cent -15 interet per ann"m, #ommen#ing from the

date of e4e#"tion hereof, to the (Pi#2on and Co., In#., a oon a the aid in#orporation

paper are d"l$ regitered and the Certi6#ate of In#orporation i"ed %$ the aforeaid

Commiion.

A g"arant$ m"t %e e4pre, -Arti#le 0//, Ci&il Code and it !o"ld %e &iolati&e of the

la! to #onider a part$ to %e %o"nd a a "ret$ !hen the &er$ !ord "ed in the

agreement i 7g"arantor.7

8. RCBC vs. Arroyo

+A9: Arti#le 0/8. * A g"arant$ ma$ alo %e gi&en a e#"rit$ for f"t"re de%t, the

amo"nt of !hi#h i not $et 'no!n; there #an %e no #laim againt the g"arantor "ntil the

de%t i lie#t "ntil the %an' i noti6ed of it

termination.

the #ompreheni&e "ret$ agreement !a admittedl$ in f"ll for#e and e>e#t. The loan

!a, therefore, #o&ered %$ the aid agreement, and pri&ate repondent, e&en if he did

not ign the promior$ note, i lia%le %$ &irt"e of the "ret$ agreement.