X owes M P100,000.00 and he is also indebted to MNO Company in the amount of P400,000.00.  M is the managing partner of MNO Company and X's obligations are already due and demandable. X paid to M the amount of P90,000.00 and M issued a receipt applying the payment to his personal credit. 

 What shall be the right of the partnership against M in this case?

Answer rating: 100% (QA)

In this case X owes M P10000000 personally and X also owes P40000000 to MNO Company where M is the managing partner of MNO Company X made a payment of ... View the full answer