Republic Planters Bank vs. Court of Appeals and Fermin Canlas
Republic Planters Bank vs. Court of Appeals and Fermin Canlas
Republic Planters Bank vs. Court of Appeals and Fermin Canlas
on its property, rights, or liabilities. The corporation continues, as before, responsible in its new
name for all debts or other liabilities which it had previously contracted or incurred.
Where the agent signs his name but nowhere in the instrument has he disclosed the fact
that he is acting in a representative capacity or the name of the third party for whom he might
have acted as agent, the agent is personally liable to take holder of the instrument and cannot be
permitted to prove that he was merely acting as agent of another and parol or extrinsic evidence
is not admissible to avoid the agent's personal liability.