Read this in The Manila Times digital edition.
Dear PAO,
A bank rented the property of my uncle. It failed to pay six months of rent to my uncle. It turned out that the bank did not directly pay my uncle as the obligation fell due and instead consigned the payment in court, without notice to my uncle. My uncle never left his residence during such time. Through some verification, he can prove that the bank made the deposit to the court two months after its obligation fell due. My uncle now seeks payment from the bank with interests. The bank now argues that since it "consigned" the money to the court, it cannot be made liable to pay the interests. What does the bank mean when it "consigned" the money? Are there requirements for it? Can it be relieved of paying interests in doing so?
Continue reading with one of these options:
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)