About this document
Trust Receipt vs. Simple Loan: G.R. 173905 by chrystel is a document available to read on EtoBox.
The Supreme Court ruled that the transaction between Anthony Ng and Asiatrust Development Bank was a simple loan, not a trust receipt transaction. A trust receipt transaction involves an entruster releasing goods to an entrustee for the purposes of sale or processing, with the obligation to deliver the sale proceeds or return the goods. However, Ng received goods from Asiatrust to fabricate communication towers for his clients under existing contracts, not for sale, so it did not constitute a trust receipt.
- Author
- chrystel
- Language
- EN