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60 66




Check regular vs managers check

Managers check was not accepted

Who is liable bank or drawer?

Sec 62

Bank would only be liable if check was accepted

Bank issues a managers check

The holder tried to encash the said check both drawer and holder

Upon presentment Bank would not accept the same

Is the bank liable?

Yes considering the fact therenis acknowldgment that they are accepting the instrument

Accomodation party. Merely issued the check despite the fact that he is noy the principal party. The
principal debtor is the accomodated party. Upon payment thereof what happens to the debt of the
accomodated party?

It would not disolve the instrument party because the accomodation party is not the principal party

Forgery a real defense even to a hd

Material rrepresentation on its original tenor

Even if there is injury the acceptor is liable up to his manner of acceptance


Obligation is to pay based on the assumed risk

Will the action of a lending company transform it to an inusrance company

Aside from the public who invested it also perform insurnace to 3rd person

With respect to its liablity it is an insurance company

Concealment, misrepresentation distinguish

Insurance commissioner obligations and authority

Suspend authorize and issue certificate of insurance

Decide on actions related to insurance

What would happen if there is an action of the commisioner to whom is it addressed to whom should it
be appealed?

Is it subject to exhaustion of administratvie remedies

Exemptions to exhaustion directly to appealte court

Decision of ic is equal to rtc appealble to ca

Is there obligation to exhaust admin remedies

Generally yes exempt purely question of law gad extreme urgency


Exercise of diligence applies to common carrier

Distinguish if common or private carrier

How will you treat as a passenger? Sano sya maconsider as a passenger

There is a contract to carry

There is a contract to carry, would you consider it a confirmation of contract of carriage in case of

Meaning and definition and attributes of corporation

Public and private corp

Existence of corporation when does it start?

Any amendment may not be approved by the sec but it is dependent on the board but they have the
responsibility to inform sec

If a corp sole wants to amend the juridical personality to a regular corp? Is there a need to dissolve the
previous corp?

Is there a need to reincorporate or reapplication? No

Can it be done through amendment? Yes by submitting the proposed amendment to sec

Approved by sec the amendment

In dissolution it is the court

Type of corporations

Public and private diffentiate

Goccs diffenrent from public corporations

Part of the state or agency public corporation

Different goccs from public corporation

Miwd was questioned for liabilty. WON the state may be liable. Dependent wheter private or public. The
mwid is a public corp being owned by the gov governed by csc canoot be held liable. Prejudicial question
in determing liabilty of miwd. Whether or not prejudicial. It is not a prejudicial wuestion therefore miwd
is liable

General banking laws

Policy of the cb

Amla coverage exemptions

Exemptions to the rule confidentiality to the foreign deposit

Determination of probable cause and consent of the depositor