10. Childhood best friends, A, B, and C took out a business loan from XYZ Bank in the amount of PHP 3 million for their joint venture project. They executed a promissory note binding them to jointly and severally pay the loan on December 1, 2024, without need of demand. On due date, A, B, and C defaulted in the payment of their loan, prompting XYZ Bank to demand the full amount of the loan, but only against A. A opposed the claim, arguing that XYZ Bank should have demanded payment not just from him but from the three of them as co-debtors. Is A correct? Reason(s). 3