12 the law presumes good faith dr gueco failed to

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12 The law presumes good faith. Dr. Gueco failed to present an iota of evidence to overcome this presumption. In fact, the act of petitioner bank in lowering the debt of Dr. Gueco from P184,000.00 to P150,000.00 is indicative of its good faith and sincere desire to settle the case. If respondent did suffer any damage, as a result of ________________ 10 Id ., at 34. 11 Legaspi Oil Co., Inc. vs. CA , 224 SCRA 213, 216 (1993). 12 Article 2220 of the NEW CIVIL CODE. 526 526 SUPREME COURT REPORTS ANNOTATED International Corporate Bank vs. Gueco the withholding of his car by petitioner, he has only himself to blame. Necessarily, the claim for exemplary damages must fail. In no way, may the conduct of petitioner be characterized as “wanton, fraudulent, reckless, oppressive or malevolent.” 13 We, likewise, find for the petitioner with respect to the third assigned error. In the meeting of August 29, 1995, respondent Dr. Gueco delivered a manager’s check representing the reduced amount of P150,000.00. Said check was given to Mr. Rivera, a representative of respondent bank. However, since Dr. Gueco refused to sign the joint motion to dismiss, he was made to execute a statement to the effect that he was withholding the payment of the check. 14 Subsequently, in a letter addressed to Ms. Desi Tomas, vice president of the bank, dated September 4, 1995, Dr. Gueco instructed the bank to disregard the “hold order” letter and demanded the immediate release of his car, 15 to which the former replied that the condition of signing the joint motion to dismiss must be satisfied and that they had kept the check which could be claimed by Dr. Gueco anytime. 16 While there is controversy as to whether the document evidencing the order to hold payment of the check was formally offered as 17
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1. evidence by petitioners, 17 it appears from the pleadings that said check has not been encashed. The decision of the Regional Trial Court, which was affirmed in toto by the Court of Appeals, orders the petitioner: to return immediately the subject car to the appellants in good working condition. Appellee may deposit the Manager’s Check—the proceeds of which have long been under the control of the issuing bank in favor of the appellee since its issuance, whereas the funds have long been paid by appellants to secure said Manager’s Check over which appellants have no control. 18 ________________ 13 Articles 2229 and 2232 of the NEW CIVIL CODE. 14 Rollo, p. 28. 15 Ibid. 16 Id ., at 28, 30. 17 Id ., at 112. 18 Id ., at 29. 527 VOL. 351, FEBRUARY 12, 2001 527 International Corporate Bank vs. Gueco Respondents would make us hold that petitioner should return the car or its value and that the latter, because of its own negligence, should suffer the loss occasioned by the fact that the check had become stale. 19 It is their position that delivery of the manager’s check produced the effect of payment 20 and, thus, petitioner was negligent in opting not to deposit or use said check. Rudimentary sense of justice and fair play would not countenance respondents’ position.
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  • Winter '17
  • Dean Tony La Vina
  • Credit card, Supreme Court of the United States, Negotiable instrument, Trial court

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