Legal Question in Business Law in Philippines

Re: signature on Reciept

Unfortunately, yes. Under the law, there is no specific form required for the validity of a receipt. Thus, the existence of the peice of paper with your signature, the amount and the date is prima facie evidence that you received the said sum of money on the date indicated. This piece of paper will be considered a written memorandum of the transaction and may be appreciated by the court as proof that you were in fact given the said sum of money.

Based on your question, it appears that they are charging you for a sum larger than that indicated in the receipt. On this matter, the receipt will be evidence only of the amount indicated therein and you cannot be held liable for the larger amount.

While you may present evidence that you signed it only as an accomodation of the request of your friend, this will be weighed against the evidence of the company indicating your acceptance of the money. At the end the day, the outcome of any litigation involving the money will be depend on the evidence both parties can present as to the validity of their respective claims.