5 SCRA 745 Mercantile Law Negotiable Instruments Law Negotiable Instruments in

General Rules of Construction

A promissory note dated march 12, 1954 was executed by Vicente Legarda, president of
Concepcion Mining Company, and Jose Sarte. On the face of the promissory note partially
reads:
NINETY DAYS after date, for value received, I promise to pay to the order of the Philippine
National Bank . . . .
The promissory note matured and without payment from the makers. PNB sued Concepcion
Mining and Sarte.
ISSUE: Whether or not the estate of Legarda should be included in the suit.
HELD: No. There is no need for pursuant to Section 17 (g) of the Negotiable Instruments
Law:
SEC. 17. Construction where instrument is ambiguous. Where the language of the
instrument is ambiguous or there are omissions therein, the following rules of construction
apply:
xxx

xxx

xxx

(g) Where an instrument containing the word I promise to pay is signed by two or more
persons, they are deemed to be jointly and severally liable thereon.