Gr. No. 138569 The Consolidated Bank and Trust Corporation, petitioner Vs. Court of Appeals and .C !

ia" and Co#pan$, C%A&s, respondent 'ACT() %ri*ate respondent .C !ia" and Co. + .C. !ia", opened a sa*in-s a..ount /ith The Consolidated Bank and Trust Corporation, no/ kno/n as (olid0ank. 1er.edes 1a.ara$a, .ashier of .C. !ia", /as instru.ted to deposit #one$ /ith (olid0ank throu-h their #essen-er 2s#ael Calapre. Calapre then /ent to (olid0ank and presented the t/o deposit slips and the pass0ook to Teller No. 6. (in.e the transa.tion took ti#e and Calapre had to #ade another deposit for .C. !ia" /ith Allied 0ank, he left the pass0ook /ith (olid0ank. 3hen Calapre returned to (olid0ank to retrie*e the pass0ook, Teller No. 6 infor#ed hi# that so#e0od$ -ot the pass0ook. Calapre then reported the in.ident. 'ailin- to -et 0a.k the pass0ook, .C. !ia" throu-h its Chief 45e.uti*e 6ffi.er, .alled up (olid0ank to stop an$ transa.tion usin- the sa#e pass0ook until .C. !ia" .ould open a ne/ a..ount. 2t /as on the sa#e da$ that .C. !ia" learned of the unauthori"ed /ithdra/al a#ountin- to %377,777 0earin- the si-natures of the authori"ed si-natories of .C. !ia". The si-natories, ho/e*er, denied si-nin- the /ithdra/al slip. .C. !ia" throu-h .ounsel de#anded fro# (olid0ank the return of its #one$ ho/e*er (olid0ank refused. 2((84)