Remedial Law, 2015 Bar — Question VII-B

ESSAY

Plaintiff sued defendant for collection of P1 million based on the latter’s promissory note. The complaint alleges, among others: 1) Defendant borrowed P1 million from plaintiff as evidenced by a duly executed promissory note; 2) The promissory note reads: “Makati, Philippines, Dec. 30, 2014. For value received from plaintiff, defendant promises to pay plaintiff P1 million, twelve (12) months from the above indicated date without necessity of demand. Signed Defendant.” A copy of the promissory note is attached as Annex “A.” Defendant, in his verified answer, alleged among others: 1) Defendant specifically denies the allegation in paragraphs 1 and 2 of the complaint, the truth being defendant did not execute any promissory note in favor of plaintiff; or 2) Defendant has paid the P1 million claimed in the promissory note (Annex “A” of the Complaint) as evidenced by an “Acknowledgment Receipt” duly executed by plaintiff on January 30, 2015 in Manila with his spouse signing as witness. A copy of the “Acknowledgment Receipt” is attached as Annex “1” hereof. Defendant filed a motion for summary judgment on the ground that there are no longer any triable genuine issues of facts. Should the court grant defendant’s motion for summary judgment? (3%)

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