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Mangu borrowed P20,000 from Pau. Mangu could not pay the loan on its due date because he suffered financial reverses, and he ran out of

Mangu borrowed P20,000 from Pau. Mangu could not pay the loan on its due date because he suffered financial reverses, and he ran out of cash even for his family's needs. Is Mangu legally justified to refuse to pay Pau? Explain.

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