3 Bank filed a criminal case for estafa thru falsification of commercial docs

3 bank filed a criminal case for estafa thru

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3. Bank filed a criminal case for estafa thru falsification of commercial docs against Diosdado a. Diosdado issued PNB 7 BPI checks (184k) when he had no sufficient funds. b. Convicted in trial court and sentenced to indemnify the bank for 184k. But this was not executed because Diosdado was totally insolvent. 4. Because of default of Diosdado, PNB transferred the pledged items to itself. a. PNB Executed a document of sale to transfer 5. PNB eventually surrendered to Philippine Shipping Commission the vessel with equity (FS-203) and the 2 boats were sold by PNB to 3 rd persons 6. Diosdado filed an action to recover the vessels from PNB. Claimed that PNB couldn’t take possession of the vessels. Lower court and CA denied, PNB had the right to take the vessels into their possession and sell them without notice to Diosdado. ISSUE: WON PNB is liable to Diosdado for the value of the 3 vessels/return the vessels. NO 1. Diosdado claiming that it was a chattel mortgage contract and not a pledge a. Exhibit A and 1-Bank documents specifically states that it was a pledge contract 1
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b. Being a pledge contract, PNB was a pledgee who is entitled to the actual possession of the vessel. Though Diosdado continued operating the vessel during the term of the pledge, his possession is dependent upon the order of the pledgee, thus the pledgee had control over the possession of Diosdado. c. Moreover, a pledgee can temporarily entrust physical possession of the pledged thing to the pledgor WITHOUT invalidating the pledge pledgor is holding the property merely as a trustee to the pledgee 2. Constructive delivery is sufficient a. Diosdado claims that the constructive delivery is insufficient to make the pledge effective. He claims that there should be actual delivery of the thing. b. SC held this is wrong since the kind of delivery is dependent upont he nature of the thing pledged and the circumstances i. Carabao – capable of actually being delivered ii. Goods contained in warehouse is not practical to be delivered. So, delivery of keys served as sufficient delivery already c. Here, the delivery effected that the pledgee can still hold the property subject to order of pledgee is sufficient delivery. 3. Rule on prior notice as to public sales in connection with foreclosure proceedings is only applicable to foreclosure of real estate mortgage, not pledge. PNB v Atendido 1. Atendido loaned from PNB P3k. Payable in 120 days, with a 6% per annum interest from date of maturity 2. Secured by a pledge of 2000 cavans of palay, deposited in a warehouse in Bulacan. Atendido endorsed a warehouse receipt in favor of PNB. 3. When maturity of loan came, the 2k cavans of palay disappeared for unknown reasons = Atendido failed to pay thus the present action.
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