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PNB v.

G.R. NO. L-26001
OCTOBER 29, 1968


Sec. 132. Acceptance; how made, by and so forth. - The acceptance of a bill is the signification by
the drawee of his assent to the order of the drawer. The acceptance must be in writing and signed by the
drawee. It must not express that the drawee will perform his promise by any other means than the
payment of money.
Sec. 143. When presentment for acceptance must be made. - Presentment for acceptance must
be made:
(a) Where the bill is payable after sight, or in any other case, where presentment for acceptance
is necessary in order to fix the maturity of the instrument; or
(b) Where the bill expressly stipulates that it shall be presented for acceptance; or
(c) Where the bill is drawn payable elsewhere than at the residence or place of business of the
In no other case is presentment for acceptance necessary in order to render any party to the bill

On Jan. 15, 1962, Augustino Lim deposited in his current account with PCIB, a GSIS check in the
sum of P57, 415 drawn against PNB. On the same date, the check was forwarded for clearing through
Central Bank to PNB, by which the latter did not return the check but retained it and paid its amount to
PCIB, and debited the amount against the account of GSIS.
On Jan. 31, 1962, GSIS demanded that the amount be re-credited to its account, on the ground
that the signatures of its officers the general manager and auditor were forged; that the payee named
was one Mariano Pullido who indorsed the check to certain Manuel Go, who further indorsed the same
to Augustino Lim, who then deposited it to PCIB. Further, GSIS stated that 2 mons before Lim deposited
the check to PCIB, it had formally notified PNB that the check was lost and thus ordered for stop payment.
PNB on the other hand, demanded from PCIB a refund of the amount paid, by which the latter
refused. Hence, this instant petition.
RTC and CA dismissed the action.

WON the Clearing process under the General Banking Practice is considered Acceptance in
contemplation of NIL

In general, acceptance is not required for checks, for the same are payable on demand. Indeed,
acceptance and payment are, within the purview of said Law, essentially different things, for the
former is a promise to perform an act, whereas the latter is the actual performance thereof.
In the words of the Law, the acceptance of a bill is the signification by the drawee of his assent
to the order of the drawer, which, in the case of checks, is the payment, on demand, of a given sum of
money. Upon the other hand, actual payment of the amount of a check implies not only an assent to said
order of the drawer and a recognition of the drawers obligation to pay the aforementioned sum, but,
also, a compliance with such obligation.

WHEREFORE, the decision appealed from is hereby AFFIRMED, with costs against the Philippine
National Bank. It is SO ORDERED.