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BPI vs. Intermediate Appellate CourtGR# L-66826, August !, !88C"R$%, &'

Facts:

Ri(ald) . *s+orna and +is i/e maintained in C"0R1% adollar savings aount and a peso urrent aount. An appliation/or a dollar drat as aomplis+ed ) 3irgillo Garia ran+manager o/ C"0R1% pa)ale to a ertain Leovigilda 4i(on. Int+e PPLICtion, Garia indiated t+at t+e amount as to e +argedto t+e dolar savings aount o/ t+e *s+ornas. +ere asa noindiation o/ t+e name o/ t+e pur+aser o/ t+e dollar dra/t. Comtrustissued a +e pa)ale to t+e order o/ 4i(on. 5+en *s+ornanotied t+e it+draal /rom +is aount, +e demanded an

eplainaiton /rom t+e an. In its anser, Comtrust laimed t+at t+epeso value o/ t+e it+draal as given to Att). $rnesto *s+orna,rot+er o/ Ri(ald). 5+en +e enas+ed it+ C"0R1% a as+iers+e /or P879 issued ) t+e manila aning orporation pa)aleto $rnesto.

Issue: 5+et+er t+e ontrat eteen petitioner and respondentan is a deposit:

Held: +e doument +i+ emodies t+e ontrat states t+at t+e1%;6, or over /ive mont+s later.

+e aove arrangement is t+at ontrat de/ined under Artile !62,?e Civil Code, +i+ reads'

Art. !62. A deposit is onstituted /rom t+e moment a personreeives a t+ing elonging to anot+er, it+ t+e oligation o/ sa/el)eeping it and o/ returning t+e same. I/ t+e sa/eeeping o/ t+e t+ingdelivered is not t+e prinipal purpose o/ t+e ontrat, t+ere is nodeposit ut some ot+er ontrat.--------------------------

BPI Family Savings Bank vs First Metro

Investment

(GR No 132390, May 21, 2004, Sandoval-Gutierrez)

Issues

!"et"er or not t"e de#osit in $uestion %ay &e treated

as de%and de#osit or ti%e de#osit'

I it is to &e onsidered a de%and de#osit, is it le*ally#rosri&ed ro% earnin* interest+

eld

"e de#osit in $uestion is a ti%e de#osit &eause t"e

de#osit o ."# 100 %illion is not /it"dra/a&le or one

year #rovided t"at an advane interest o 1 is #aid'

No' e%and e#osits are not le*ally #rosri&ed ro%

earnin* interest' nder 5 ir 22 s 1994, de%and

de#osits s"all not &e su&6et to any rate eilin*' "is,aordin* to t"e S is an o#en aut"ority to #ay interest

even on de%and de#osit and /it" %ore reason &eause

interest is not even su&6et to any eilin*'

8/13/2019 BPI vs

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7ddendu%

i%e e#osit 8 is one /"ere t"e #ay%ent o /"i"

annot &e le*ally re$uired /it"in a s#eiied nu%&er o

days'

e%and e#osit (urrent 7ount) 8 is one /"ere t"elia&ility o t"e &an is deno%inated in ."ili##ine

urreny su&6et to #ay%ent in le*al tender u#on

#resentation o t"e de#ositor:s "e'

-----------------------------------

Digests (Berne Guerrero)

Tan vs. CAGR 108555, 20 December 1!"irst Division, #a$unan (%)

"acts& Ramon Tan, a businessman from Puerto Princesa, secured aCashiers Check from PhilippineCommercial Industrial Bank (PCIBank) to P30,000 paable to his order to

a!oid carrin" cash #hile enrouteto $anila% &e deposited the check in his account in Ri'al CommercialBankin" Corporation (RCBC) in itsBinondo Branch% RCBC sent the check for clearin" to the Central Bank#hich #as returned for ha!in" beenmissent or misrouted% RCBC debited Tans account #ithout informin"him% Relin" on commonkno#led"e that a cashiers check #as as "ood as cash, and a month afterdepositin" the check, he issued t#o

personal checks in the name of *o +ak and $ -e!elopment Tradin"Corporation% Both checks bounced dueto insufficienc of funds% Tan filed a suit for dama"es a"ainst RCBC%

'ssue& .hether a cashiers check is as "ood as cash, so as to ha!efunded the t#o checks subse/uentl dra#n%

e*& n ordinar check is not a mere undertakin" to pa an amount ofmone% There is an element ofcertaint or assurance that it #ill be paid upon presentation1 that is #h itis percei!ed as a con!enient

substitute for currenc in commercial and financial transactions% &erein,#hat is in!ol!ed is more than anordinar check, but a cashiers check% cashiers check is a primarobli"ation of the issuin" bank andaccepted in ad!ance b its mere issuance% B its !er nature, a cashierscheck is a banks order to pa #hat isdra#n upon itself, committin" in effect its total resources, inte"rit andhonor beond the check% &erein,PCIB b issuin" the check created an unconditional credit in fa!or ancollectin" bank% Reliance on thelamans perception that a cashiers check is as "ood as cash is not entirelmisplaced, as it is rooted in

practice, tradition and principle%