Title
Supreme Court
Philippine National Bank vs. Court of Appeals
Case
G.R. No. 108052
Decision Date
Jul 24, 1996
PNB intercepted funds intended for Lapez, claiming offset for double credits. Courts ruled interception improper, citing implied trust and rejecting legal compensation, upholding banking trust principles.

Case Digest (G.R. No. 108052)
Expanded Legal Reasoning Model

Facts:

  • Parties and Remittances
    • Petitioner Philippine National Bank (PNB) acted as local correspondent of National Commercial Bank (NCB) of Jeddah, Saudi Arabia; respondent Ramon Lapez (Sapphire Shipping) was beneficiary.
    • Two fund transfers were coursed through PNB:
      • US$2,627.11 from NCB Jeddah intended for credit to Lapez’s Citibank Greenhills account.
      • P34,340.38 from Brega Petroleum Marketing Company of Libya intended for deposit in Lapez’s PNB account No. 830-2410.
  • Interception and Prior Erroneous Credits
    • PNB intercepted the US$2,627.11 and applied it by way of compensation to recover two mistaken double credits (US$5,679.23 in November 1980 and US$5,885.38 in January 1981; aggregate P87,380.44) previously and erroneously credited to Lapez’s PNB account.
    • Lapez made a written demand (Dec. 4, 1986) for release of US$2,627.11; PNB replied (Dec. 22, 1986) inviting conference. PNB issued receipt No. 857576 (Feb. 18, 1987) acknowledging P34,340.38 as “full settlement.”
  • Trial Court Proceedings
    • PNB pleaded compensation (Art. 1279, Civil Code) and solutio indebiti (Art. 2154) to justify interception and set-off. It also raised prescription of Lapez’s claim.
    • The Regional Trial Court held:
      • The mistaken double credits gave rise to a quasi-contractual obligation (solutio indebiti) of Lapez to refund PNB.
      • No legal compensation for US$2,627.11: PNB was trustee, Lapez the beneficiary under stipulation pour autrui (Art. 1453).
      • Compensation valid only for P34,340.38 (all requisites under Art. 1279 present); net indebtedness P7,380.44.
      • PNB ordered to pay Lapez US$2,627.11 (or peso equivalent with interest from Jan. 13, 1987); all other claims and counterclaims dismissed.
  • Court of Appeals Decision
    • Affirmed trial court in toto:
      • Held that the remittance created no creditor-debtor relation between PNB and Lapez; PNB’s sole duty was to transmit to Citibank.
      • Found no legal ground to intercept US$2,627.11; upheld trust relationship.
      • Confirmed entitlement to compensation for P34,340.38 only.

Issues:

  • Compensation/Set-Off
    • Whether PNB, as local correspondent bank, could legally intercept the US$2,627.11 remittance and apply it as compensation for Lapez’s previous indebtedness under Art. 1279 of the Civil Code.
    • Whether the requirements for legal compensation (principal debts, sum of money, due, liquidated, no dispute) were present.
  • Prescription
    • Whether PNB’s claim to recover the mistaken double credits was barred by prescription (quasi-contract claims under Art. 1145, six-year period).

Ruling:

  • (Subscriber-Only)

Ratio:

  • (Subscriber-Only)

Doctrine:

  • (Subscriber-Only)

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