[1] Presiding Justice Nathanael P. de Pano, Jr., ponente; Associate Justices Fermin A. Martin, Jr. and Conchita Carpio Morales, concurring. [2] Presided by Judge Leticia P. Morales. [3] Exh. VV. [4] Exh. WW. [5] Exh. CC. [6] Exh. JJ. [7] Exh. HH. [8] Rollo, p. 67-73. [9] Rollo, pp. 79-82. [10] Record, p. 71. [11] Decision dated August 9, 1996; Rollo, pp. 24-37. [12] Resolution dated December 5, 1996; Rollo, pp. 39-43. [13] Petition, p. 15. [14] Alicbusan v. Court of Appeals, 336 Phil. 321, 326-327 (1997). [15] Civil Code, Art. 1767; Fue Leung v. Intermediate Appellate Court, 169 SCRA 746, 754 (1989); citing Yulo v. Yang Chiao Cheng, 106 Phil. 110 (1959). [16] Civil Code, Art. 1771; Agad v. Mabato, 132 Phil. 634, 636 (1968). [17] Civil Code, Art. 1772. Every contract of partnership having a capital of three thousand pesos or more, in money or property, shall appear in a public instrument, which must be recorded in the Office of the Securities and Exchange Commission. Failure to comply with the requirements of the preceding paragraph shall not affect the liability of the partnership and the members thereof to third persons. [18] TSN, November 12, 1991, p. 49. [19] Exh. C-5-A. [20] Civil Code, Art. 2053. A guaranty may also be given as security for future debts, the amount of which is not yet known; there can be no claim against the guarantor until the debt is liquidated. A conditional obligation may also be secured. [21] V TOLENTINO, CIVIL CODE OF THE PHILIPPINES, p. 507, 1992 ed. [22] TSN, November 12, 1991, p. 4. [23] Ibid., p. 44. [24] Exh. C-4; TSN, December 16, 1991, pp. 15-18. [25] Sardane v. Court of Appeals, 167 SCRA 524, 530-531 (1998). [26] Ibid. [27] TSN, November 12, 1991, pp. 54. [28] Ibid., pp. 52-53. [29] Ibid., p. 50.