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People Of The Phil. Islands Vs. Venancio Concepcion 044 Phil 126

THE PEOPLE OF THE PHILIPPINE ISLANDS, plaintiff-appellee, vs. VENANCIO CONCEPCION, defendant-appellant.

G.R. No. 19190 | 1922-11-29

D E C I S I O N


MALCOLM, J.:

By telegrams and a letter of confirmation to the manager of the Appari branch of the Philippine National Bank, Venancio Conception, President of the Philippine National Bank, between April 10, 1919, and May 7, 1919, authorized an extension of credit in favor of "Puno y Conception, S. en C." in the amount of P300,000. This special authorization was essential in view of the memorandum order of President Conception dated May 17, 1918, limiting the discretional power of the local manager at Appari, Cagayan, to grant loans and discount negotiable documents to P5,000, which, in certain cases, could be increased to...