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Firestone vs. Luzon Bank: Non-Negotiability by Franz Marasigan is a document available to read on EtoBox.

This case involved special withdrawal slips that were delivered by Fojas-Arca to Firestone in payment for tires purchased on credit. Firestone deposited the slips with Citibank. Previously, Luzon Bank had honored and paid similar slips. However, Luzon Bank dishonored two of the slips in this case. The Supreme Court ruled that Luzon Bank was not liable because the slips were non-negotiable instruments, so the bank had no obligation to immediately notify of dishonor. Citibank and Firestone should have known t

Author

Franz Marasigan

Language

EN