This case has been cited 2 times or more.
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2016-01-13 |
BRION, J. |
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| The terms of a contract govern the parties' rights and obligations. When a party undertakes to be "jointly and severally" liable, it means that the obligation is solidary.[19] Furthermore, even assuming that a party is liable only as a guarantor, he can be held immediately liable without the benefit of excussion if the guarantor agreed that his liability is direct and immediate.[20] In effect, the guarantor waived the benefit of excussion pursuant to Article 2059(1) of the Civil Code. | |||||
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2012-12-03 |
PERLAS-BERNABE, J. |
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| Settled is the rule that debts incurred by directors, officers, and employees acting as corporate agents are not their direct liability but of the corporation they represent, except if they contractually agree/stipulate or assume to be personally liable for the corporation's debts,[14] as in this case. | |||||