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What is Trust Receipt Estafa in People v. Nitafan about?

The Supreme Court ruled that a private respondent who received goods worth P398,000 from a bank under a trust receipt agreement, with the obligation to sell the goods and account for the proceeds or return the goods if unsold, and failed to pay P114,884.22, was liable for the crime of estafa. A trust receipt arrangement has features of both a loan and security agreement. The Trust Receipts Law punishes dishonesty and abuse of confidence in handling money or goods, regardless of ownership. It does not seek t

Author

dwight yu

Language

EN