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Querimit
G.R. No. 148582
January 16, 2002
Chapter I: Requisites of Negotiability
FACTS:
Respondent Estrella Querimit worked as an internal auditor of the
Philippine Savings Bank (PSB) for 19 years. She opened a dollar
savings account in petitioner Far East Bank and Trust Company
(FEBTC)issued to her was four (4) Certificates of Deposit, each
representing a total amount of 60,000 USD. Said certificates were
to mature on January 23, 1987 and were payable to bearer at
4.5% interest per annum. Respondent kept her money in the bank
to ear more interest and use her funds after she retired. After
accompanying his husband, who eventually died, to the United
States, she returned to the Philippines and went to petitioner to
withdraw her deposit. Petitioner told respondent that her husband
had withdrawn the money deposit. Despite several demands
made by the respondent, petitioner refused to pay prompting
Querimit to file a complaint against FEBTC. Petitioner insisted that
they allowed respondents husband to withdraw the deposit by
presenting certified true copies of documents showing the
payment. The trial court and the Court of Appeals rendered
judgment for respondent stating the fact that FEBTC failed to
prove that the certificates of deposit had been paid out of its
funds. Respondents subject certificates of deposit until now
remain unendorsed, undelivered and unwithdrawn.