“M” and “N” were very good friends. “N” borrowed P100,000.00 from “M” Because of their close relationship, the promissory note executed by “N” provided that he would pay the loan “whenever his means permit.” Subsequently, “M” and “N” quarreled. “M” now asks you to collect the loan because he is in dire need of money. What legal action, if any, would you take in behalf of “M”?
“M” and “N” were very good friends. “N” borrowed P100,000.00 from “M” Because of their close relationship, the promissory note executed by “N” provided that he would pay the loan “whenever his means permit.” Subsequently, “M” and “N” quarreled. “M” now asks you to collect the loan because he is in dire need of money. What legal action, if any, would you take in behalf of “M”?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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“M” and “N” were very good friends. “N” borrowed P100,000.00 from “M” Because of their close relationship, the promissory note executed by “N” provided that he would pay the loan “whenever his means permit.” Subsequently, “M” and “N” quarreled. “M” now asks you to collect the loan because he is in dire need of money. What legal action, if any, would you take in behalf of “M”?
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