G.R. No. L-27155 May 18, 1978
Lessons Applicable: Liability for Torts (Corporate Law)
FACTS:
- PNB executed its bond w/ Rita Gueco Tapnio as principal, in favor of the PNB to guarantee the payment of Tapnio's account with PNB.
- Indemnity Agreement w/ 12% int. and 15% atty. fees
- Sept 18 1957: PNB sent a letter of demand for Tapnio to pay the reduced amount of 2,379.91
- PNB demanded both oral and written but to no avail
- Tapnio mortgaged to the bank her lease agreement w/ Jacobo Tuazon for her unused export sugar quota at P2.80 per picular or a total of P2,800 which was more than the value of the bond
- PNB insisted on raising it to P3.00 per picular so Tuazon rejected the offer
ISSUE: W/N PNB should be liable for tort
HELD: YES. affirmed.
- While Tapnio had the ultimate authority of approving or disapproving the proposed lease since the quota was mortgaged to the bank, it certainly CANNOT escape its responsibility of observing, for the protection of the interest of Tapnio and Tuazon, that the degree of care, precaution and vigilance which the circumstances justly demand in approving or disapproving the lease of said sugar quota
- Art. 21 of the Civil Code: any person who wilfully causes loss or injury to another in a manner that is contrary to morals, good customs or public policy shall compensate the latter for the damage.