This case has been cited 4 times or more.
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2009-01-19 |
NACHURA, J. |
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| The fact that the contract of suretyship was signed by the petitioner prior to the execution of the promissory note does not negate the former's liability. The contract entered into by the petitioner is commonly known as a continuing surety agreement. Of course, a surety is not bound to any particular principal obligation until that principal obligation is born. But there is no theoretical or doctrinal impediment for us to say that the suretyship agreement itself is valid and binding even before the principal obligation intended to be secured thereby is born, any more than there would be in saying that obligations which are subject to a condition precedent are valid and binding before the occurrence of the condition precedent.[17] | |||||
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2006-12-20 |
CALLEJO, SR., J. |
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| The transfer of rights takes place upon perfection of the contract, and ownership of the right, including all appurtenant accessory rights, is acquired by the assignee[79] who steps into the shoes of the original creditor as subrogee of the latter[80] from that amount, the ownership of the right is acquired by the assignee. The law does not require any formal notice to bind the debtor to the assignee, all that the law requires is knowledge of the assignment. Even if the debtor had not been notified, but came to know of the assignment by whatever means, the debtor is bound by it. If the document of assignment is public, it is evidence even against a third person of the facts which gave rise to its execution and of the date of the latter. The transfer of the credit must therefore be held valid and effective from the moment it is made to appear in such instrument, and third persons must recognize it as such, in view of the authenticity of the document, which precludes all suspicion of fraud with respect to the date of the transfer or assignment of the credit.[81] | |||||
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2003-10-08 |
YNARES-SANTIAGO, J. |
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| An assignment of credit is an agreement by virtue of which the owner of a credit, known as the assignor, by a legal cause, such as sale, dacion en pago, exchange or donation, and without the consent of the debtor, transfers his credit and accessory rights to another, known as the assignee, who acquires the power to enforce it to the same extent as the assignor could enforce it against the debtor. [15] | |||||
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2003-06-10 |
CARPIO, J. |
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| Art. 31. When the civil action is based on an obligation not arising from the act or omission complained of as a felony, such civil action may proceed independently of the criminal proceedings and regardless of the result of the latter. An example of a case falling under Article 31 is a civil action to recover the proceeds of sale of goods covered by a trust receipt. Such civil action can proceed independently of the criminal action for violation of the trust receipt law.[21] In such a case, the validity of the contract, on which the civil action is based, is not at issue. What is at issue is the violation of an obligation arising from a valid contract the trust receipt. | |||||