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Terp Construction Corp. vs. Banco Filipino

TERP CONSTRUCTION CORPORATION, PETITIONER, V. BANCO FILIPINO SAVINGS AND MORTGAGE BANK, RESPONDENT.

G.R. No. 221771 | 2019-09-18

D E C I S I O N
 
LEONEN, J.:
 
A corporation's repeated payment of an allegedly unauthorized obligation contracted by one (1) of its officers effectively ratifies that corporate officer's allegedly unauthorized act.
 
This Court resolves a Petition for Review on Certiorari[1] assailing the Decision[2] and Resolution[3] of the Court of Appeals, which reversed and set aside the Regional Trial Court Decision and ordered Terp Construction Corporation (Terp Construciton) to pay Banco Filipino Savings and Mortgage Bank (Banco Filipino) interest differentials of P18,104,431.33.
 
Sometime in 1995, Terp...