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Metropolitan Bank and Trust Company vs. Chiok

METROPOLITAN BANK AND TRUST COMPANY, PETITIONER, VS. WILFRED N. CHIOK, RESPONDENT. BANK OF THE PHILIPPINE ISLANDS, PETITIONER, VS. WILFRED N. CHIOK, RESPONDENT. GLOBAL BUSINESS BANK, INC., PETITIONER, VS. WILFRED N. CHIOK, RESPONDENT.

G.R. No. 172652 and G.R. No. 175302 and G.R. No. 175394 | 2014-11-26

 
D E C I S I O N
 
LEONARDO-DE CASTRO, J.:
 
The three consolidated petitions herein all assail the Decision[1] of the Court of Appeals in CA-G.R. CV No. 77508 dated May 5, 2006, and the Resolution[2] in the same case dated November 6, 2006.

Respondent Wilfred N. Chiok (Chiok) had been engaged in dollar trading for several years. He usually buys dollars from Gonzalo B. Nuguid (Nuguid) at the exchange rate prevailing on the date of the sale. Chiok pays Nuguid either in cash or manager’s check, to be picked up by the latter or deposited in the latter’s bank account. Nuguid delivers the dollars either on the...