It is factual and evidentiary. It does not mean bad judgment or negligence because it imports a dishonest purpose or some moral obliquity and conscious wrongdoing. It means breach of a known duty through some ill motive or interest. It partakes of the nature of fraud. Inability to pay obligation is not synonymous with fraud. – Magaling vs. Peter Ong
Serrano vs. Central Bank Digest
October 11, 2022
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
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