PHILIPPINE NATIONAL BANK (PNB) vs. RODRIGUEZ G.R. No. 170325 September 26, 2008, Fictitious Payee Rule, Negotiable Instruments Law
FACTS: Respondents-Spouses Rodriguez maintained savings and demand/checking accounts with petitioner. In line with their informal lending business, they had a discounting arrangement with PEMSLA, an association of PNB employees, which regularly granted loans to its members. Spouses Rodriguez would rediscount the postdated checks issued to members whenever the association was short of funds, and would… Read More PHILIPPINE NATIONAL BANK (PNB) vs. RODRIGUEZ G.R. No. 170325 September 26, 2008, Fictitious Payee Rule, Negotiable Instruments Law