Transfield Philippines vs. Luzon Hyrdro Corp Digest

Facts Transfield Phils. (TPI) and Luzon Hydro (LHC) entered into a Turnkey Contract* where TPI undertook to construct a hydro electric power station. The contract provided completion date and for extensions of time (EOT) in cases such as force majeure. To secure the performance of TPI, TPI opened in favor of LHC two standby letters […]

Serrano vs. Central Bank Digest

Facts Serrano made a time deposit with Overseas Bank of Manila (OBM) including one that was assigned to him by another person without knowing that the Central Bank (CB) already has limited the bank’s activities because of reserve deficiencies. OBM then used Serrano’s deposit among others as collateral for emergency loans and as fulfillment for […]

Chan vs. Maceda Digest

G.R. 142291 Lesson: If the facts are bereft of any record of the existence of a contract of deposit, oral or written, there is no obligation for the depositary to return the thing to the depositor. Facts In July 1976, respondent hotel owner Bonifacio Maceda obtained a P7.3 million loan from DBP for the construction […]

YHT Realty vs. CA Digest

Topic: Necessary deposits Facts McLoughlin, an Australian businessman, stayed in Tropicana hotel from 1984 to 1987. He rented a safety deposit box which could be opened by the use of 2 keys: (a) one by the guest, and (b) one by the management of the hotel. The guest alone could request the management who will […]