BANKING.docx

Robles petitioner is solidarity liable to the

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Robles, petitioner is solidarity liable to the respondents for damages caused by the acts of the former, pursuant to Article 1911 of the Civil Code. 50 The ruling in PCIB v. CA 51 insofar as it imposes liability directly and solely upon the employer does not apply considering that Robles, while not a petitioner in this case, has been validly been served with summons by publication 52 and joined as party in the case before the trial court 53 and the CA. 54 Jurisdiction having been acquired over his person, this Court consequently has the authority to rule upon his liability. 55 On a final note, it must be pointed out that the irregularity has only been discovered by the petitioner on March 30, 2006 when Valdez went to petitioner's Mabini branch to have her account with Tobias updated. 56 It bears to stress that petitioner had the opportunity to discover such irregularity at the time the loan application was submitted for its approval or at the latest, when the respondents defaulted with the payment of their obligation. With the extreme repercussions of the transactions entered into by the respondents, instead of just relying on the supposed authority of Robles and examining the documents submitted, petitioner should have at least communicated with the respondents in order to verify with them the genuineness of their signatures therein and whether they understood the implications of affixing the same. Nothing short is expected of petitioner considering that the nature of the banking business is imbued with public interest, and as such the highest degree of diligence is demanded. 57 WHEREFORE , in view of the foregoing disquisitions, the petition for review on certiorari is
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hereby DENIED . The Decision dated May 31, 2016 and Resolution dated October 10, 2016 issued by the Court of Appeals in CA-G.R. CV No. 102545 are AFFIRMED . SO ORDERED. G.R. No. 173548 ONOFRE ANDRES, SUBSTITUTED BY HIS HEIRS, NAMELY: FERDINAND, ROSALINA, ERIBERTO, FROILAN, MA. CLEOFE, NELSON, GERMAN, GLORIA, ALEXANDER, MAY, ABRAHAM, and AFRICA, All Surnamed ANDRES, Petitioners vs. PHILIPPINE NATIONAL BANK , Respondents D E C I S I O N LEONEN, J.: A bank that accepts a mortgage based upon a title which appears valid on its face and after exercising the requisite care, prudence, and diligence appropriate to the public interest character of its business can be deemed a mortgagee in good !aith. The subsequent consolidation of title in its name after a valid foreclosure shall be respected notwithstanding later proof showing that the title was based upon a void transaction. This case involves a 4,634-square-meter parcel of land in Nueva Ecija mortgaged to respondent Philippine National Bank (PNB). PNB later foreclosed the property and consolidated title in its name. 1 Petitioner Onofre Andres, the uncle of mortgagors Reynaldo Andres and his wife, Janette de Leon, filed a complaint for cancellation of title and reconveyance of the property alleging that title in mortgagor's name was based on a falsified document denominated as "Self-Adjudication of Sole Heir." The trial court ruled in favor of Onofre Andres by voiding all derivative titles from TCT No. NT-7267. The
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