WebA surety is an insurer of the debt, whereas a guarantor is an insurer of the solvency of the debtor. A suretyship is an undertaking that the debt shall be paid; a guaranty, an undertaking that the debtor shall pay. WebCOCHINGYAN JR. v. R & B SURETY AND INSURANCE COMPANY, INC G.R. No. L-47369, June 30, 1987. Facts: Pacific Agricultural Suppliers, Inc. (PAGRICO) applied for and was granted an increase in its line of credit from P400,000.00 to P800,000.00 (Principal Obligation), with the Philippine National Bank (PNB). To secure PNB's approval, …
Cochingyan V R B PDF Guarantee Virtue
WebIn consideration of R & B Surety's issuance of the Surety Bond, two identical indemnity agreements were entered into with R & B Surety executed by the Catholic Church Mart (CCM) and by petitioner Joseph Cochingyan, Jr, and (b) another agreement dated 24 December 1963 was executed by PAGRICO. WebSubscribe to our newsletter and stay up to date with the latest updates and documents! east wintergarden address
G.R. No. L-47369 - Lawphil
WebPetitioner Joseph Cochingyan, Jr. in his answer maintained that the Indemnity Agreement he executed in favor of R & B Surety: (i) did not express the true intent of the parties thereto in that he had been asked by R & B Surety to execute the Indemnity Agreement merely in order to make it appear that R & B Surety had complied with the requirements … WebMar 22, 2024 · PNB vs Luzon Surety G.R. No. L-29587, Nov 28, 1975 Republic vs. CA & R & B Surety, G.R. No. 103073, March 13, 2001. Expenses incurred by the guarantor. TUASON VS MACHUCA G.R. No. L-22177 December 2, 1924. Damages, if they are due. Exceptions to the right to indemnity or reimbursement. ARTICLE 2067. Guarantor’s right … WebCochingyan, Jr. vs. R&B Surety and Insurance Co., Inc. In the present case, we note that the Trustor under the Trust Agreement, the CCM, was already previously bound to … east wireless