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Citytrust vs. Central Bank: Liability Case by Anida Domiangca is a document available to read on EtoBox.

What is Citytrust vs. Central Bank: Liability Case about?

The Central Bank of the Philippines appealed a lower court decision holding it equally liable with Citytrust Banking Corporation for losses from stolen checks. Citytrust gave Central Bank a list of authorized signatories, including a roving teller who later presented two stolen checks. Central Bank paid out on the checks without verifying the signature. The Supreme Court held that as a bank, Central Bank owes a high standard of care and integrity to its depositors according to law. While Citytrust was also

Author

Anida Domiangca

Language

EN