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PNB vs Rodriguez
G.R. No. 170325 September 26, 2008
Lessons Applicable: Fictitious Persons (Negotiable
Instruments Law)
FACTS:
Spouses Erlando and Norma Rodriguez were
engaged in the informal lending business and
had a discounting arrangement with the
Philnabank Employees Savings and Loan
Association (PEMSLA), an association
of PNB employees
The
association
maintained
current
and savings accounts with PhilippineNational
Bank (PNB)
PEMSLA regularly granted loans to its
members. Spouses
Rodriguez
would
rediscount the postdated checks issued to
members whenever the association was short
of funds.
As was customary, the spouses would replace
the postdated checks with their own checks
issued in the name of the members.
PNB eventually
fraudulent acts
found
out
about
these
Metrobank vs. CA
G.R. No. 88866
Cruz, J.:
Facts:
Issue:
Whether the marking non-negotiable in DMC PN
2731 prohibited Philfinance from assigning or
transferring the same to Sesbreno.
Held:
The negotiation of a negotiable instrument must be
distinguished from the assignment or transfer of an
instrument whether that be negotiable or nonnegotiable. Only an instrument qualifying as a
negotiable instrument under the relevant statute may
be negotiated either by indorsement thereof coupled
with delivery, or by delivery alone where the
negotiable instrument is in bearer form. A negotiable
instrument may, however, instead of being
negotiated, also be assigned or transferred. The
legal consequences of negotiation as distinguished
from assignment of a negotiable instrument are, of
course, different. A non-negotiable instrument may,
obviously, not be negotiated; but it may be assigned
or transferred, absent an express prohibition against
assignment or transfer written in the face of the
instrument: "The words 'not negotiable,' stamped on
the face of the bill of lading, did not destroy its
assignability, but the sole effect was to exempt the
bill from the statutory provisions relative thereto, and
a bill, though not negotiable, may be transferred by
assignment; the assignee taking subject to the
equities between the original parties." Herein, DMC
PN No. 2731, while marked "non-negotiable," was
not at the same time stamped "non-transferrable" or
"nonassignable." It contained no stipulation which
prohibited Philfinance from assigning or transferring,
in whole or in part, that Note. Further, there is
nothing in the letter of agreement dated 10 April
1980 between Delta and Philfinance which can be
reasonably construed as a prohibition upon
Philfinance assigning or transferring all or part of
DMC PN 2731, before the maturity thereof. It is
scarcely necessary to add that, even had this "Letter