This case has been cited 3 times or more.
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2012-04-25 |
VELASCO JR., J. |
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| Tria, it must be reiterated, was PNB's bank manager for its MWSS branch. The check in question was a manager's check. A manager's check is one drawn by a bank's manager, Tria in this case, upon the bank itself. We have held that it stands on the same footing as a certified check, which is deemed to have been accepted by the bank that certified it, as it is an order of the bank to pay, drawn upon itself, committing in effect its total resources, integrity and honor behind its issuance. By its peculiar character and general use in commerce, a manager's check is regarded substantially to be as good as the money it represents.[39] In fact, it is obvious from the PNB affidavits that the MWSS C/A was deducted upon the issuance of the manager's check and not upon its encashment. Indeed, as the bank's own check, a manager's check becomes the primary obligation of the bank and is accepted in advance by the act of its issuance.[40] | |||||
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2009-01-30 |
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| At the outset, it must be noted that the questioned check issued by SBTC is not just an ordinary check but a manager's check. A manager's check is one drawn by a bank's manager upon the bank itself. It stands on the same footing as a certified check,[13] which is deemed to have been accepted by the bank that certified it.[14] As the bank's own check, a manager's check becomes the primary obligation of the bank and is accepted in advance by the act of its issuance.[15] | |||||
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2008-08-28 |
CHICO-NAZARIO, J. |
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| Section 1. Summary judgment for claimant. - A party seeking to recover upon a claim, counterclaim, or cross-claim or to obtain a declaratory relief may, at any time after the pleading in answer thereto has been served, move with supporting affidavits, depositions or admissions for a summary judgment in his favor upon all or any part thereof. For a summary judgment to be proper, the movant must establish two requisites: (a) there must be no genuine issue as to any material fact, except for the amount of damages; and (b) the party presenting the motion for summary judgment must be entitled to a judgment as a matter of law. Where, on the basis of the pleadings of a moving party, including documents appended thereto, no genuine issue as to a material fact exists, the burden to produce a genuine issue shifts to the opposing party. If the opposing party fails, the moving party is entitled to a summary judgment.[27] | |||||