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    Facts:Oriel Magno Is On The Process of Putting Up A Car Repair Shop Sometimein April 1983 But He Lacks Fund in Acquiring

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    Jil Mei IV
    Oriel Magno wanted to open a car repair shop but lacked funds to purchase equipment. He approached Corazon Teng for equipment financing assistance. Teng referred Magno to LS Finance, who would supply equipment if Magno could get a loan. Magno couldn't come up with the required 30% deposit. Corazon Teng provided the deposit amount without Magno's knowledge. Magno issued checks for the equipment but most were returned for insufficient funds. He was charged with bouncing checks but the Supreme Court ruled he was not criminally liable as the deposit was not truly his money.

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    Facts:Oriel Magno Is On The Process of Putting Up A Car Repair Shop Sometimein April 1983 But He Lacks Fund in Acquiring

    Uploaded by

    Jil Mei IV
    56 views17 pages
    Oriel Magno wanted to open a car repair shop but lacked funds to purchase equipment. He approached Corazon Teng for equipment financing assistance. Teng referred Magno to LS Finance, who would supply equipment if Magno could get a loan. Magno couldn't come up with the required 30% deposit. Corazon Teng provided the deposit amount without Magno's knowledge. Magno issued checks for the equipment but most were returned for insufficient funds. He was charged with bouncing checks but the Supreme Court ruled he was not criminally liable as the deposit was not truly his money.

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    Oriel Magno wanted to open a car repair shop but lacked funds to purchase equipment. He approached Corazon Teng for equipment financing assistance. Teng referred Magno to LS Finance, who would supply equipment if Magno could get a loan. Magno couldn't come up with the required 30% deposit. Corazon Teng provided the deposit amount without Magno's knowledge. Magno issued checks for the equipment but most were returned for insufficient funds. He was charged with bouncing checks but the Supreme Court ruled he was not criminally liable as the deposit was not truly his money.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    56 views17 pages

    Facts:Oriel Magno Is On The Process of Putting Up A Car Repair Shop Sometimein April 1983 But He Lacks Fund in Acquiring

    Uploaded by

    Jil Mei IV
    Oriel Magno wanted to open a car repair shop but lacked funds to purchase equipment. He approached Corazon Teng for equipment financing assistance. Teng referred Magno to LS Finance, who would supply equipment if Magno could get a loan. Magno couldn't come up with the required 30% deposit. Corazon Teng provided the deposit amount without Magno's knowledge. Magno issued checks for the equipment but most were returned for insufficient funds. He was charged with bouncing checks but the Supreme Court ruled he was not criminally liable as the deposit was not truly his money.

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    Facts:Oriel

    Magno is on the
    process of putting
    up a car repair
    shop sometimein
    April 1983 but he
    lacks fund in
    acquiring

    complete set of
    equipments
    forhim to make
    his shop
    operational. Thus,
    she approached
    Corazon Teng,
    VicePresident of

    Mancor
    Industries, for his
    needed
    equipment for car
    repair of which
    Mancor was a
    distributor.Havin
    g

    been approached
    by petitioner on
    his predicament,
    who fully bared
    that he had no
    sufficient funds to
    buy the equipment
    needed,
    Tengreferred

    Magno to LS
    Finance and
    Management
    Corporation
    advising its VicePresident,
    JoeyGomez, that
    Mancor was
    willing and able to

    supply the pieces


    of equipment
    needed if
    LSFinance could
    accommodate
    petitioner and
    provide him credit
    facilities.The
    arrangement went

    on requiring
    Magno to pay 30%
    of the total amount
    of theequipment as
    a warranty deposit.
    Since Magno dont
    have that money
    he requested Joey
    Gomezto look for

    third party who


    could lend him
    that amount. And
    apparently
    Corazon Teng was
    theone who
    provided that
    amount without
    the knowledge of

    Magno. As a
    payment to
    theequipment,
    Magno issued six
    checks wherein
    only two of them
    were cleared and
    the rest have
    nosufficient fund.

    Likewise, because
    of unsuccessful
    venture, Magno
    also failed to pay
    LS Financewho
    then pulled out the
    garage
    equipments.
    Magno was

    charged four
    counts of violation
    of B.P.Blg. 22
    (The Bouncing
    Checks Law)
    where he found
    guilty and
    affirmed by the
    Court of Appeals.

    Hence, the present


    petition for
    reviewIssue:Whet
    her Magno should
    be punished for
    the issuance of the
    checks in
    questions.Ruling:T
    he Supreme Court

    held that Magno is


    not criminally
    liable for the
    issued checks.
    Tocharge the
    petitioner for the
    refund of a
    "warranty deposit"
    which he did not

    withdraw as it
    wasnot his own
    account, it having
    remained with LS
    Finance, is to even
    make him pay an
    unjust"debt", to
    say the least, since
    petitioner did not

    receive the amount


    in question. All the
    while, saidamount
    was in the
    safekeeping of the
    financing
    company, which is
    managed,
    supervised

    andoperated by the
    corporation
    officials and
    employees of LS
    Finance.It is
    intriguing to
    realize that Mrs.
    Teng did not want
    the petitioner to

    know that it
    wasshe who
    "accommodated"
    petitioner's request
    for Joey Gomez, to
    source out the
    needed funds for

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