Can I read BPI v. Royeca: Payment and Checks on EtoBox?

BPI v. Royeca: Payment and Checks by BAROPS is a document available to read on EtoBox.

What is BPI v. Royeca: Payment and Checks about?

The spouses Royeca executed a promissory note and chattel mortgage in favor of Toyota Shaw for a vehicle loan. Toyota assigned the interest to FEBTC, which later merged with BPI. The spouses claimed to have paid by issuing postdated checks, but BPI claimed non-payment. The Court held that checks do not constitute valid payment until cashed, so the obligation remained. Tender of a negotiable instrument alone does not discharge the obligation, which remains suspended until payment is actually realized. The sp

Author

BAROPS

Language

EN