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Free Legal Advice Philippines » FREE LEGAL ADVICE » OBLIGATIONS & CONTRACTS | CREDIT TRANSACTIONS » Bank wont pay us

Bank wont pay us

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1Bank wont pay us Empty Bank wont pay us Tue Mar 01, 2011 5:09 pm

kezyap


Arresto Menor

Last January we found out that the past bank branch manager stole our time deposit. the bank acknowledge that it was stolen and no withdrawal slip was presented since it was stolen.
what law can we demand the bank to pay the stolen deposit?

2Bank wont pay us Empty Re: Bank wont pay us Tue Mar 01, 2011 5:46 pm

attyLLL


moderator

the contract for time deposit plus the provisions of the civil code on what is called mutuum are the grounds for a demand.

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3Bank wont pay us Empty Re: Bank wont pay us Wed Mar 02, 2011 9:13 am

kezyap


Arresto Menor

attyLLL wrote:the contract for time deposit plus the provisions of the civil code on what is called mutuum are the grounds for a demand.


what RA can support this demand? the bank isn't doing anything and doesnt have the sense of urgency to help us or even update us with things.

4Bank wont pay us Empty Re: Bank wont pay us Wed Mar 02, 2011 4:14 pm

attyLLL


moderator

you don't need to cite any particular law, but the ones I cited are from the civil code. the time deposit contract is the law that governs the parties but may be supplemented by general laws.

your first step is to send a letter with demand that the bank return the money to you. make sure you have a copy which is stamped received.

after which if they do not pay, if the amount is not more than 100k, you can consider a small claims case. rules on sc.judiciary.gov.ph.

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