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BPI Vs. Lifetime Marketing Corp.

BANK OF THE PHILIPPINE ISLANDS, Petitioner, versus LIFETIME MARKETING CORPORATION, Respondent.

G.R. No. 176434 | 2008-06-25

D E C I S I O N


Tinga, J.:

The Bank of the Philippine Islands (BPI) seeks the reversal of the Decision[1] of the Court of Appeals dated 31 July 2006 in CA-G.R. CV No. 62769 which ordered it to pay Lifetime Marketing Corporation (LMC) actual damages in the amount of P2,075,695.50 on account of its gross negligence in handling LMC's account.

The following facts, quoted from the decision of the Court of Appeals, are undisputed:

On October 22, 1981, Lifetime Marketing Corporation (LMC, for brevity),opened a current account with the Bank of the Philippine Islands (BPI, for brevity), Greenhills-Edsa branch,denominated as Account No....