Spouses Eduardo and Epifania Evangelista vs Mercator Financing Co.

(GR No 148864, Aug 21, 2003,

Puno)

The promissory not in question is worded as follows:

“For value received, I/we jointly and severally promise to pay to the order of Mercator Financing
Company ……..”

Are the spouses jointly and severally liable?

The SC held that under Section 17 (g) of the NIL and Article 1216 of the Civil Code, where the promissory
note was executed jointly and severally by two or more persons, the payee of the promissory note had
the right to hold any one of the two (2) signers of the promissory note responsible for the payment of
the whole amount of the note.