"The 'credit' of an individual means his ability to borrow money by virtue of the confidence or trust reposed by a lender that he will pay what he may promise."
Justice George A. Malcolm, People v. Concepcion, 44 Phil. 126 (1922).

11.08.2011

Security Transactions: Surety

A. General Concepts
Art. 2047, Art. 1211, Art. 1216,Art. 2082 to 2084
B.  Form of Surety
Art. 1403
C.  Obligations Secured
Art. 2053
Security Bank & Trust Company v. Cuenca, G.R. No. 138544. October 3, 2000, 341 SCRA 781.
D. Distinguished from Standby Letter of Credit
E.  Distinguished from Guaranty
Art. 2047
Palmares v. Court of Appeals & M.B. Lending Corporation, G.R. No. 126490, March 31, 1998, 288 SCRA 422.
E. Zobel, Inc. v. Court of Appeals, G.R. No. 113931, May 6, 1998, 290 SCRA 1.
International Finance Corporation v. Imperial Textile Mills, Inc., G.R. No. 160324, November 15, 2005, 475 SCRA 149.
Philippine Blooming Mills, Inc. & Ching, v. Court of Appeals, G.R. No. 142381, October 15, 2003, 413 SCRA 445.
F. Distinguished from Joint and Solidary Obligations
Art. 2047, Art. 2066, Art. 2067, Art. 1217
Escano & Silos v. Ortigas, Jr., G. R. No.  151953, June 29, 2007, 526 SCRA 26.

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