PNB V. CONCEPCION MINING
115 PHIL 723
A case for collection of a sum of money was filed against defendants in connection with a promissory note they issued with others. The defendants move that since their co-makers have died, claim should be also against the estates of such. This was denied by the court.
Where an instrument containing the words “I promise to pay” is signed by two or more persons, they are deemed to be jointly and severally liable thereon. By virtue of this provision found in Section 17, and as the promissory note was executed jointly and severally by the parties, the payee of the promissory note had the right to hold any one of the them responsible for the payment of the amount of the note.