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                    [ArticleID] => 264429
                    [Title] => Banks liable for encashing forged checks
                    [Summary] => The Supreme Court has ruled that banks should be held liable for paying forged checks even if done in good faith.


In a 32-page decision penned by Justice Dante Tinga, the SC Second Division upheld a Manila Regional Trial Court ruling ordering the Far East Bank and Trust Co. to pay or credit back close to P1 million to a construction firm’s account.


The amount covered the forged  check it encashed 12 years ago. FEBTC was also held liable for interest and for attorney’s fees.


                    [DatePublished] => 2004-09-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804901
                    [AuthorName] => Aurea Calica
                    [SectionName] => Business
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RHODA FLORES

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                    [ArticleID] => 264429
                    [Title] => Banks liable for encashing forged checks
                    [Summary] => The Supreme Court has ruled that banks should be held liable for paying forged checks even if done in good faith.


In a 32-page decision penned by Justice Dante Tinga, the SC Second Division upheld a Manila Regional Trial Court ruling ordering the Far East Bank and Trust Co. to pay or credit back close to P1 million to a construction firm’s account.


The amount covered the forged  check it encashed 12 years ago. FEBTC was also held liable for interest and for attorney’s fees.


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                    [ColumnID] => 133272
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                    [AuthorName] => Aurea Calica
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abtest

Banks liable for encashing forged checks

By Aurea Calica | September 12, 2004 - 12:00am

The Supreme Court has ruled that banks should be held liable for paying forged checks even if done in good faith. In a 32-page decision penned by Justice Dante Tinga, the SC Second Division upheld a Manila Regional...

Business