Back

HSBC vs Peoples Bank and Trust Company 35 scra 140

HONGKONG & SHANGHAI BANKING CORPORATION, plaintiff-appellant, vs. PEOPLES BANK & TRUST COMPANY, defendant-appellee.

G.R. No. L-28226 | 1970-09-30

D E C I S I O N


FERNANDO, J:

Defendant, now appellee Peoples Bank & Trust Company, is sought to be held liable in the amount of P14,608.05, the sum payable in a check issued by the Philippine Long Distance Telephone Company drawn on plaintiff Hongkong & Shanghai Banking Corporation, now appellant, with itself as payee, the check thereafter falling into the hands of a third party who substituted his name thereon and was able to collect such amount from defendant Bank where it was deposited. Plaintiff was unsuccessful, the Court of First Instance of Manila, the Honorable Jesus de Veyra presiding, dismissing the complaint. It considered...