Arnold borrowed P500,000 from Ronald on February 14, 2000 as evidenced by a promissory note. The note stated that the loan was due to be repaid by February 14, 2001. Ronald sent Arnold a letter on February 16, 2001 demanding repayment within 10 days as Arnold had failed to repay the loan on the due date. The same demand letter was sent again on February 16, 2005 and February 16, 2015 as Arnold still had not repaid the loan.
Arnold borrowed P500,000 from Ronald on February 14, 2000 as evidenced by a promissory note. The note stated that the loan was due to be repaid by February 14, 2001. Ronald sent Arnold a letter on February 16, 2001 demanding repayment within 10 days as Arnold had failed to repay the loan on the due date. The same demand letter was sent again on February 16, 2005 and February 16, 2015 as Arnold still had not repaid the loan.
Arnold borrowed P500,000 from Ronald on February 14, 2000 as evidenced by a promissory note. The note stated that the loan was due to be repaid by February 14, 2001. Ronald sent Arnold a letter on February 16, 2001 demanding repayment within 10 days as Arnold had failed to repay the loan on the due date. The same demand letter was sent again on February 16, 2005 and February 16, 2015 as Arnold still had not repaid the loan.
I, Arnold hereby receive the amount of P 500,000.00 from
Ronald as a loan. The loan shall be payable within one year. Maturity date is on February 14, 2001. I promise to pay on February 14, 2001.
ARNOLD Debtor
ANNEX B
February 16, 2001
To: Mr. Arnold
123 Barangay Tisa Cebu City
Dear Mr. Arnold,
For the purpose of this letter, I demand payment of money you
owed. On February 14, 2000, you pleaded to borrow an amount of P500, 000.00. On the same date, you executed a promissory note that you would pay the debt you owed from me on the maturity date, February 14, 2001. It is also stipulated in your promissory note that the debt is payable within one year. An oral demand was made but you refused to pay. Please settle your indebtedness within ten (10) days from receipt thereof.
Sincerely,
RONALD
ANNEX C
February 16, 2005
To: Mr. Arnold
123 Barangay Tisa Cebu City
Dear Mr. Arnold,
For the purpose of this letter, I demand payment of money you
owed. On February 14, 2000, you pleaded to borrow an amount of P500, 000.00. On the same date, you executed a promissory note that you would pay the debt you owed from me on the maturity date, February 14, 2001. It is also stipulated in your promissory note that the debt is payable within one year. An oral demand was made but you refused to pay. Please settle your indebtedness within ten (10) days from receipt thereof.
Sincerely,
RONALD
ANNEX D
February 16, 2015
To: Mr. Arnold
123 Barangay Tisa Cebu City
Dear Mr. Arnold,
For the purpose of this letter, I demand payment of money you
owed. On February 14, 2000, you pleaded to borrow an amount of P500, 000.00. On the same date, you executed a promissory note that you would pay the debt you owed from me on the maturity date, February 14, 2001. It is also stipulated in your promissory note that the debt is payable within one year. An oral demand was made but you refused to pay. Please settle your indebtedness within ten (10) days from receipt thereof.