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X owes M P100,000.00 and he is also indebted to MNO Company in the amount of P400,000.00. M is the managing partner of MNO Company
X owes M P100,000.00 and he is also indebted to MNO Company in the amount of P400,000.00. M is the managing partner of MNO Company and X's obligations are already due and demandable. X paid to M the amount of P90,000.00 and M issued a receipt applying the payment to his personal credit.
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In this case X owes M P10000000 personally and X also owes P40000000 to MNO Company where M is the managing partner of MNO Company X made a payment of ...
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
