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any vs Rosales
CASE DIGEST: METROPOLITAN BANK AND TRUST COMPANY VS ROSALES
Published by admin on July 3, 2014 | Leave a response
THE METROPOLITAN BANK AND TRUST COMPANY, Petitioner, vs
ANA GRACE ROSALES AND YO YUK TO, Respondents.
G.R. No. 183204
FACTS:
Petitioner Metrobank is a domestic banking corporation duly orga
nized and existing under the laws of the Philippines. Respondent Rosales is the
owner of a travel agency while Yo Yuk To is her mother.
In 2000, respondents opened a Joint Peso Account10 with petition
er s Pritil-Tondo Branch.
In May 2002, respondent Rosales accompanied her client Liu Chiu
Fang, a Taiwanese National applying for a retiree s visa from the Philippine Leisu
re and Retirement Authority (PLRA), to petitioner s branch in Escolta to open a sa
vings account. Since Liu Chiu Fang could speak only in Mandarin, respondent Rosa
les acted as an interpreter for her.
On March 3, 2003, respondents opened with petitioner s Pritil-Tond
o Branch a Joint Dollar Account with an initial deposit of US$14,000.00.
ndents
On July 31, 2003, petitioner issued a Hold Out order against respo
accounts.
ISSUE:
Whether Metrobank breached its contract with respondents.
HELD:
YES. The Court held that Metrobank s reliance on the Hold Out
in the Application and Agreement for Deposit Account is misplaced.
clause
FALLO:
WHEREFORE, the Petition is hereby DENIED. The assailed April 2,
2008 Decision and the May 30, 2008 Resolution of the Court of Appeals in CA-G.R.
CV No. 89086 are hereby AFFIRMED.