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Albino S. Co Vs. Court Of Appeals, Et Al

ALBINO S. CO, petitioner, vs. COURT OF APPEALS and PEOPLE OF THE PHILIPPINES, respondents.

G.R. No. 100776 | 1993-10-28

D E C I S I O N


NARVASA, J.:

In connection with an agreement to salvage and refloat a sunken vessel -- and in payment of his share of the expenses of the salvage operations therein stipulated -- petitioner Albino Co delivered to the salvaging firm on September 1, 1983 a check drawn against the Associated Citizens' Bank, postdated November 30, 1983, in the sum of P361,528.00. 1 The check was deposited on January 3, 1984. It was dishonored two days later, the tersely-stated reason given by the bank being: "CLOSED ACCOUNT."

A criminal complaint for violation of Batas Pambansa Bilang 22 2 was filed by the salvage company against Albino Co...