Fay v. Bank Of The Philippine Islands

ROMUALDEZ, J.:

Claiming to have in his current account with the defendant bank a balance of P27,000 in his favor, the plaintiff prays for judgment against the defendant for such an amount, with legal interest thereon from October 14, 1922, with the costs. The defendant bank admits the facts alleged in the first three paragraphs of the complaint, denies specifically all those set forth in the other paragraphs, and prays for the dismissal of the action with the costs against the plaintiff. At the beginning of the trial, the parties entered into the following stipulation of facts: Come now the plaintiff, Go Fay, by his undersigned attorneys, and the defendant, the Bank of the Philippine Islands, by its undersigned attorneys, and agree and stipulate as follows: 1.

That the plaintiff is a reside of the City of Manila, Philippine Islands: 2. That the defendant is a banking corporation organized and existing under the laws of the Philippine Islands, with its principal place of business in the City of Manila, Philippine Islands; 3. That, at all times mentioned in plaintiff's complaint, plaintiff had a current checking account in defendant bank, in Manila, Philippine Islands; 4.

That, at the time plaintiff opened his account in defendant bank, defendant agreed to accept and deposit to plaintiff's account any and all sums of money delivered to it by plaintiff and did further agree to honor and pay any and all checks, and other order for money, drawn by plaintiff upon it, in a sum not to exceed, at any time, the just balance to the credit of plaintiff; 5. That on 31st day of December, 1919, plaintiff had a credit balance in his current account in defendant bank in the sum of P141,400.63; 6. That between the 31st day of December, 1919, and the 31st day of August, 1922, plaintiff deposited in his current account in defendant bank, sums aggregating P5,023,009.10; 7.

That the reported balance in plaintiff's current account with defendant bank, on the 31st day of August, 1922, according to the August, 1922, monthly statement submitted by defendant to plaintiff, showed a credit balance in favor of plaintiff in the sum of P16,004.60 only, subsequently checked out by plaintiff; 8. That plaintiff asserts the true balance to his credit in his current account with defendant bank of said 31st day of August, 1922, was the sum of P43,004.60; 9. That the difference between said sum mentioned in paragraphs 7 and 8 of this stipulation is P27,000, Philippine currency, represented by five checks paid by defendant and charged to plaintiff's account as follows; Date Number Amount August 4, 1922 800,700 Series A P5,500.00 August 5, 1922 800,703 Series A 6,000.00 August 1, 1922 800,705 Series A 7,500.00 August 7, 1922 800,707 Series A 5,000.00 August 2, 1922 800,708 Series A 3,000.00