PNB v. Pike
G.R. No. 157845 September 20, 2005
Ponente: Phil. SC Justice Chico-Nazario
Facts: The petitioner PNB allowed a representative of Defendant (his talent manager) to withdraw from his dollar account with the use of a pre-signed withrdawal slip.
Issue: Whether or not the bank is liable
HELD: Yes. PNB was held liable due to the negligence of its employees in allowing the unauthorized withdrawal. This was shown by the lackadaisical attitude of its employees in treating Pike's US dollar account, an act which resulted to the loss of $7,500. Such warrants for the award of damages. The slips used were in breach of the standard operating procedure of the bank in the ordinary and usual course of business.
Even if it is the employees who are negligent, the bank's liability as the obligor is not merely vicarious but primary since banks are expected to exercise the degree of diligence in the selection and supervision of their employees.
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