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Bank of America vs. Philippine Racing Club by emolotrab is a document available to read on EtoBox.
What is Bank of America vs. Philippine Racing Club about?
The document summarizes a Supreme Court case between Bank of America and Philippine Racing Club Incorporated regarding two checks that were encashed by an unauthorized person. The checks had irregularities like an incomplete payee but were still encashed by the bank. While the racing club was negligent for leaving pre-signed checks, the bank failed to verify the checks despite irregularities. The Supreme Court ruled that the bank was primarily at fault for not preventing the loss and should pay 60% of damag
- Author
- emolotrab
- Language
- EN