PNB v Concepcion

Facts:
A promissory note was executed by 3 persons, Concepcion Mining, Sarte and Legrada. Legarda died and
his estate was under the process of judicial determination. PNB instituted an action to include the estate
of Legarda in the payment of the note. CFI held that there was no need to have the estate included.

Held:
Under the NIL, when a note states I promise to pay and is signed by 2 or more persons, they are
deemed jointly and severally liable. Thus, creditors may proceed against any one of the solidary debtors
of some of them or all of them simultaneously. The payee has the right to hold only one of the signers
liable. It was also found out that Sarte attempted to mislead the court to believe that he is not a co-
maker, because the copy of the note on record did not contain his name.