This case has been cited 1 times or more.
|
2006-02-06 |
CALLEJO, SR., J. |
||||
| In the meantime, the Court rendered judgment in Allied Banking Corporation v. Ordoñez,[11] holding that the penal provision of P.D. No. 115 encompasses any act violative of an obligation covered by the trust receipt; it is not limited to transactions involving goods which are to be sold (retailed), reshipped, stored or processed as a component of a product ultimately sold. The Court also ruled that "the non-payment of the amount covered by a trust receipt is an act violative of the obligation of the entrustee to pay."[12] | |||||