PNB V. CA - Acceptance of Checks
25 SCRA 693
Lim deposited in his PCIB account a GSIS check drawn against PNB. Following standard banking procedures, the check was sent to petitioner for clearing. He didn’t return said check but paid the amount to PCIB as well as debited it against the account of GSIS. Thereafter, a demand was received from GSIS asking for the credit of the amount since the signatures found in the check were forged. This was done by PNB and it now comes after PCIB but the latter wouldn’t want to return the money.
Acceptance is not required for checks, for the same are payable on demand. Acceptance and payment are distinguished with each other. The former pertains to a promise to perform an act while the latter is the actual performance of the act.
PNB had also been negligent with the particularity that it had been guilty of a greater degree of negligence because it had a previous and formal notice from GSIS that the check had been lost, with the request that payment be stopped. Just as important is that it is its acts, which are the proximate cause of the loss.