Modelos teóricos de gestión de comunicación de crisis

A bank is under no obligation to make part payment on a check, up to only the amount of the drawer's funds, where the check is drawn for an amount larger than what the drawer has on deposit. There has never been a practice of partial payment of checks since the check holder could not under such circumstance be called upon to surrender the check, and the bank would be without a voucher affording a certain means of showing the payment. The rule is based on commercial convenience, and any rule that would work such manifest inconvenience should not be recognized. A check is intended not only to transfer a right to the amount named in it, but to serve the further purpose of affording evidence for the bank of the payment of such amount when the check is taken up.

B.) Kinds of Checks

Memorandum Check - A check on which is written the word “memorandum,” “memo” and “mem” signifying that the drawer engages to pay the bona fide holder absolutely, and not upon a condition to pay upon presentment at maturity and if due notice of the presentment and non- payment should be given.

It is a check given by a borrower to a lender for the amount of a short loan, with the

understanding that it is not to be presented at the bank, but will be redeemed by the maker himself when the loan falls due and which understanding is evidenced by writing the word “memorandum,” “memo” or “mem” on the check.

Crossed check - A crossed check is one where two parallel lines are drawn across its face or across a corner thereof. The usual practice in crossing a check is to place two parallel lines diagonally on the left top portion of the check.

The check may be crossed generally or specially. The crossing is considered "special" when the name of a bank or a business institution is written between the two parallel lines. In this instance, the drawee -- the bank, in most instances -- should pay only with the intervention of that bank or company. On the other hand, the crossing is considered general when the words "and Co.", "and company" or none at all are written between the two parallel diagonal lines, and

in this instance, the drawee should not encash the same but merely accept the same for deposit.

Associated Bank v. Court of Appeals 208 SCRA 465 (1992)

Under accepted banking practice, crossing a check is done by writing two parallel lines diagonally on the left top portion of the checks. The crossing is special where the name of a bank or a business institution is written between the two parallel lines, which means that the drawee should pay only with the intervention of that company.

Metropolitan Bank v. Phil. Bank of Communications 536 SCRA 556 (2007)

While the Negotiable Instruments Law is silent with respect to crossed checks, the Supreme Court nonetheless has taken judicial cognizance of the practice that a check with two parallel lines on the upper left corner means that it could only be deposited and not converted into cash. The crossing of a check with the phrase “Payee's Account Only” is a warning that the check should be deposited in the account of the payee.

The crossing of a check affects the mode of its presentment for payment. A crossed check has the following effects.

(1) the check may not be encashed but only deposited in the bank;

(2) the check may be negotiated only once to one who has an account with a bank; and (3) and the act of crossing the check serves as warning to the holder that the check has been issued for a definite purpose so that he must inquire if he has received the check pursuant to that purpose, otherwise, he is not a holder in due course.

De Ocampo v. Gatchalian 3 SCRA 596 (1961)

Gatchalian went to a car trader to shop for a used car. He did not like the cars on display since he was looking for a particular car. The owner told him that if he gives P2,000 down payment, the owner can get the car for him. So he gave the owner a crossed check for P2.000. In the meantime however, the owner's wife gave birth and the check was used to pay for the hospital expense. When the drawer returned to get the check, he was informed that it had been used to pay the bill.

It was held that the hospital is not a holder in due course. It should have investigated why the check was crossed. Since the purpose of the crossed check was the purchase of a car, the hospital is not a holder in due course. Seeing that the check was crossed, it should have first conducted an investigation.

Associated Bank v. Court of Appeals 208 SCRA 465 (1992)

The payee of a crossed check which was issued “for payee's account only” can recover from the collecting bank which allowed the encashment of crossed checks by an unauthorized third-person.

Certified Check - A certification is an agreement whereby the bank against whom a check is drawn undertakes to pay it any future time when presented for payment. (Sec. 187).

New Pacific Timber v. Seneris 101 SCRA 686 (1980)

Certification is equivalent to acceptance and operates as assignment of a part of the funds to the creditors.

Cashier's Check - a check written by a financial institution on its own funds. It is then signed by a representative of the financial institution and made payable to a third party. A customers who purchases a cashier's check pays for the full face value of the check and usually also pays a small premium for the service.

These checks are secured by the funds of the issuer - usually a bank - and include the name of a payee (the entity to which the check is payable), and the name of the remitter (the entity that paid for the check).

Tan v. Court of Appeals