Settled is the rule that debts incurred by directors, officers,
and employees acting as corporate agents are not their direct liability but of
the corporation they represent, except if
they contractually agree/stipulate or assume to be personally liable for
the corporation’s debts, as in this case (Ildefonso S. Crisologo Vs. People of
the Philippines and China Banking Corporation, G.R. No. 199481. December 3,
2012).
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