About this document

Atrium Management Corp. v. Hi-Cement Liability by Wayne Michael Novera is a document available to read on EtoBox.

Hi-Cement Corporation issued four postdated checks totaling PHP 2 million payable to E.T. Henry and Co. Inc., who endorsed the checks to Atrium Management Corporation. When the checks were presented for payment, the bank dishonored them with the reason "payment stopped". Atrium sued Hi-Cement for collection. The RTC ruled Hi-Cement liable but the CA reversed, saying the issuance was an ultra vires act. The Supreme Court ruled that the issuance was not ultra vires as the treasurer was authorized to issue che

Author

Wayne Michael Novera

Language

EN