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warranty of indorser
Law School Notes

Jai-Alai Corp. of the Phil. vs. Bank of the Phil.

Law School Notes - Case Digest
November 10, 2020 by Vala No Comments

No. L-29432. August 6, 1975

FACTS:

Jai – Alai deposited 10 checks with a total face value of P8,030.58 with BPI. All checks were acquired by the petitioner from one Antonio J. Ramirez, a sales agent of the Inter-Island Gas and a regular bettor at jai-alai games.

Inter-Island Gas discovered that all the indorsements made on the checks purportedly by its cashiers were forgeries.  In due time, the Inter-Island Gas advised the petitioner, the respondent, the drawers and the drawee-banks of the said checks about the forgeries, and filed a criminal complaint against Ramirez.

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