BULLET NOTES IN COMMERCIAL LAW REVIEWER FOR THE 2014 OCTOBER BAR EXAMS; It stamped its guarantee on the back of the checks and subsequently presented these checks for clearing and it was on the basis of these endorsements by the petitioner that the proceeds were credited in its clearing account. The petitioner by its own acts and representation can not now deny liability because it assumed the liabilities of an endorser by stamping its guarantee at the back of the checks. (Banco de Oro vs. Equitable Banking Corporation G.R. No. 74917 January 20, 1988)(TACORDA BIDO BERNABE DELA VEGA NAPAY-LITUSQUEN ISIDORO & ABAD FILES 2014)
Posted on: Sun, 12 Oct 2014 11:07:27 +0000
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