Salamat po Atty. Maralit and Atty. Uy! Big help po talaga ito sa oblicon classes ko. Bilang working student, hindi ko po madalas natatapos ang pages to read sa books kasi bumibiyahe pa ko at hindi naman lagi nakakapagbukas ng libro sa opisina. Pero sa pakikinig ko dito during breaks or kapag downtime pati na rin sa biyahe, nakakasagot ako sa recit hehe
Yes. The bank has the right to apply the deposits of D as a payment of his debt because according to the general rule under Article 1287, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In that case, the ₱40,000 deposits of D would be considered as the payment of his debt since he wasn't able to pay in its due time. However, D's total debt is ₱50,000 and therefore still has an obligation to pay for the remaining ₱10,000.
Yes, the bank has the right to apply the deposit to the payment of the debt of D because as stated in the general rule of Article 1287 of the New Civil Code of the Philippines, a bank has the right of set-off of the deposits in the hands for the payment of any indebtedness to it on the part of the depositor. With that case, the deposits of D worth P40,000 in the same bank would set as his payment for his obligation to the bank as he weren't able to pay his indebtedness in it's due time. Through that, D is still liable for the remaining balance worth P10,000 and he still need to pay it for his obligation to be fulfilled.
Yes, the bank has the right to apply the debtor's deposit of 40,000 as the payment for D's debt since it is out of due and it is one of the ways to have the obligation to be extinguished. Since the amount of the debt is 50,000 and it was not paid on due then there is a deposit of 40,000 in the same bank then the bank will recognize D's deposit as the payment of the loan. Then there will be remaining of 10,000 debt from the debtor to the bank.
Yes the bank has the right to take the 40,000 pesos to the deposited amount of the debtor, however the obligation of D is not already extinguish therefore D is still liable for the remaining 10,000 pesos.
Yes, the bank has the right to do such a thing / apply the deposit to the payment of D's debt because it is a relationship between the creditor and the debtor themselves. And as a general rule, under article 1287, "a bank has the right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor." But on the other hand, D is still liable for the debt balance of 10,000 pesos. - Castillo, Patricia
Yes, the bank has the right to apply the deposit to the payment of D's debt because as stated in Article 1287 of the New Civil Code of the Philippines, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of the depositor. It means that the P 40,000 deposit of D to the bank is considered as payment since he was not able to pay it on the due date. Although, the obligation is not yet extinguished since there is still P 10,000 of unpaid loan.
Yes, the bank has the right to apply the deposit to the payment of D's debt. As stated in Article 1287, a bank has a right of set off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Since, the debtor has a savings of amounting P40,000. The bank has the right to set off that deposits as a payment with the debtor's loan. Debts are extinguished up to the amount of P40,000. Hence, D still owes P10,000.
Yes, the bank has the right to apply the deposit of D as payment of his debt. Based on Article 1287, as a general rule, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. This is a legal right that gives the bank to hold D’s savings account. So, the bank can seize the D’s deposit which amounted to P40,000 to offset the amount of his unpaid loan. Since the indebtedness of D amounted to P50,000, the obligation is not extinguished because there are still remaining balance of P10,00O to pay.
Yes, the bank has the right to get the deposited money of D to pay for the debt. According to Article 1287 of the New Civil Code, the general rule to this case is a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Since D cannot accomplish his obligation to pay the bank after a certain period, D's saving account in the bank worth P 40,000 will be considered as a payment to his debt worth P 50,000. Hence, D is still liable to pay the remaining debts worth P 10,000 in order to fully extinguish his obligation.
Yes. Generally, the bank has the right to apply D's Php50,000 delinquent loan amount due, against his existing Php40,000 savings account with the Bank. This is called the right of offset which is normally stipulated in the Loan terms and condition. If you're not paying your loan amortizations as they become due, your deposit account agreement or loan agreement normally contains an explanation of when the bank may exercise its right to apply the same against your existing deposit.
Yes, because the bank has the right of offset, which means that in case that the debtor failed to settle his debt on time which the bank allow him, in this case 50,000, then the bank can take the money from the debtor's deposit account, which has 40,000 and make payment on the said debt. Moreover, the debtor should not forget that he is still liable for the remaining debt of 10,000.
Yes, the bank has the right to apply the deposit to the payment of D's debt. As a general, which is stated under Article 1287, a bank has a right of set-off of the deposits in hands for the payment of any indebtedness to it on the part of a depositor. Also, the depositor has every right to set-off his money deposit with a bank against the loans he had obtained from said bank. The bank can collect P40, 000 from the D's savings deposit. But the obligation is not yet extinguished because D has a remaining balance of 10,000 to pay.
Yes, if it's mentioned in the contract, that the deposit of the debtor will serve as collateral in case of the debtor's failure to deliver, otherwise the bank will have to ask for the debtor's consent to offset the applicable amount. Moreover, if the debtor is sufficiently delinquent in his payment then the bank can use its legal right to offset or take the debtor's deposit to cover (partially) his loans.
Yes, the bank has the right to apply the savings deposit of D as a payment of his debt. A bank has a right to set-off the deposit on its hand for the payment of any indebtedness on the part of a depositor. So that the bank has the right to take Php 40,000 to the deposited amount of the debtor, but the obligation of D is not already extinguish so that D is still liable for the remaining 10,000 pesos as a character loan in the bank.
Yes, the bank has the right to use the 40,000 deposit of D as the partial payment for his debt amounting to 50,000. Why? Became as stated in the gerenal rule, a bank has the right to set-off the deposit in its hands for the payment of any indebtedness.
Yes I think the bank have the right to apply the deposit to the payment of D's debt. In Article 1287 a bank has a right of set off of the deposits in its hands for the payment of any indebtedness to its on the part of a depositor. Since D's savings worth 40,000 but they not fulfill his obligation they have a balance 10,000
Yes, the bank has the right to apply the deposit of D to the payment of his debt. As a general rule, a bank has a right to set-off the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, the bank has the right to set off account balances of D in the amount of P40,000 against his obligation owed to the bank in the amount of P50,000. However, the obligation will not be totally extinguished as D is still liable to pay the balance of his debt amounting to P10,000.
Yes, the bank has the right to get the deposited money of D to pay for his debt. It is in accordance with the general rule that a bank has a right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. It means that D's savings account in the same bank worth P40,000 is considered as payment for his debt since he can't accomplish his obligation to pay the bank after a certain period. Hence, D is still liable to pay the remaining P10,000 in order to extinguish his obligation.
Yes, the bank has the right to apply the deposit to the payment of D's debt. Under the law, the general rule to this case is a bank has a right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor.
Yes, the bank has the right to apply the deposit for the payment of D's debt. Under the general rule of the Civil Code, a bank has a right to set-off the deposits in its hand for the payment of any indebtedness on the part of a depositor. In that case, the deposit of D which amounted to P40,000 would be considered as the payment of his debt since he cannot comply to his obligation. However, his obligation will not be totally extinguished since he is still liable for the remaining balance of P10,000.
Yes, the bank has the right to do such thing. As a general rule under article 1287 "a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor". Same as to the D he or she has every right to set-off his money deposit with a bank against the loans he had obtained from said bank. On the other hand the deposit of D is not enough to set off his or her indebtedness and still liable for the debt balance of 10000 pesos.
Yes, the bank has the right to apply the deposit to the payment of D's debt. Under the law, as a general rule, a bank has a right of set- off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, he will still be liable to P10,00 since he has only a deposit of P40,000 on the said bank.
Yes, since according to the general rule under Art. 1287, a bank has a right to set-off the deposits in its hands for the payment of any indebtedness to it on the part of any depositor. And D, being the depositor will be paid for the P40,000 since he has a savings of the same amount, but he is still liable for the reaming P10, 000 of his full debt of P50,000.
Yes, the bank has the right to apply the deposit for the payment of the debtor's indebtedness. For this reason, under the Civil Code of the Philippines, a bank can take the stated deposits to cover missed payments that the debtor have with them. The right of set-off or offset is being done on this scenarios. This might seem unreasonable at first blush, but right of offset is perfectly legal as long as a bank or credit union follows the rules. With this regard, the Php 40,000 can now be cover by the debtor's savings account, and he is still liable for the remaining debts which amounted to Php 10,000. - BSMA 2101
Yes, the bank has the right to apply the deposit to the payment of D's debt. The general rule is, the bank has the right of set-off of the deposits in its hands for the payment of any indebtedness to the part of the depositor. It is likewise that the depositor has every right to set off the money he deposited in the bank against the loans he had obtained from it. With this, the bank can get the P40,000 savings of D. The obligation is not extinguished because D is still liable to pay P10,000.
Yes, the bank has the right to apply the savings deposit of D as a paymemt of his deb. It is stated in general rule that, "a bank has a right of set-off on the deposits in its hand as a payment of any indebtedness by the depositor". But as stated, the total amount of D's debt is 50,000 and the his deposits in bank is only 40,000, so 40,000 is the only amount the bank can offset and D is still liable for the 10,000 remaining debt.
Under the civil code, The bank has the right to apply the savings deposit of D as a payment to the debt, But the consent of D should be giving consideration as when all P40,000 got applied then the account will be close. Also, the bank may issue penalty and demand to D the fulfillment of obligation before directly applying it as a payment. Still, the basis is the stipulation agreed by both parties especially that a loan is considered unsecured wherein there is no collateral and the bank's faith to D is the basis of the loan.
Yes, the bank has the right to apply the deposit of D as partial compensation of his debt because the relationship between them is that of a creditor and debtor.
Yes, the bank has the right to apply the deposit to the payment of D's debt since it created a relationship of creditor and debtor. It was also stated as a general rule that a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor.
Yes, the bank has the right to apply the deposit to the payment of D's debt because according to Article 1287, as a general rule, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Similarly, the depositor which is D also has every right to set off his money deposit with a bank against the loans he had obtained from the bank. It means that the bank can get in D's savings deposit for its debt therefore, the remaining debt of D will be P10,000.
Gooday sir, Yes, the bank has the right to apply the savings deposit of D as a payment of his debt. A bank has the right to set-off the deposit in its hand for the payment of any indebtedness on the part of a depositor. In that case the deposit of D which is 40,000 will be the payment for his debt. But D is still liable to pay the remaining balance which is 10,000.
Yes, the bank has the right to apply the deposit to the payment of D's debt because a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank .
Yes, I think the bank have the right to apply the deposit to the payment of D's debt because under the general rule, a bank has the right to set-off of the deposits in its hands for the payment of any indebtness to it on the part of a deposit. So in this situation, the bank can get the 40,000 from D's deposit as partial payment, and D is liable to pay 10,000 to extinguish his obligation.
Yes, the bank has the right to apply the deposit for the payment of D's debt because as a general rule under Art. 1287 "a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor". In this case, the bank can get the 40,000 from D's deposit as partial payment, and D is still liable to pay 10,000 to entirely extinguish his obligation.
Yes, the bank has the right to apply the savings deposit of D as a payment for his/her debt. A bank deposit is a loan that creates a relationship of debtor and creditor. Likewise, D's character loan also created such relationship, making them a creditor and debtor of each other. And under the new Civil Code, as a general rule, the bank has a right of set-off on the deposits in its hands for the payment of any indebtedness incurred by a depositor. Hence, the bank can offset D's P40,000 deposit for his/her P50,000 debt, however this will not totally extinguish the obligation yet. D is still liable to pay his/her remaining P10,000 character loan in the bank.
Yes, the bank has the right to apply the deposit for the payment of D's debt. The law provides that a bank has the right of set off the deposits in its hands for the payment of any indebtedness of a depositor. Compensation exists but only to the extent of P40,000. D is still liable for his remaining P10,000 character loan from the bank.
According to the general rule under Article 1287, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of the depositor. As a result, the bank has the right to apply D's savings as a payment of his debt. However, he is still liable for his remaining debt amounting to Php10,000 because as stated, D's total debt is Php50,000 and his deposit in the bank is only Php40,000.
The bank has the right to apply the deposit to the payment of D's debt because the bank can set-off of the deposits in its hands for the payment of D's indebtedness to it. But the depositor which is D also has every right to set off his money deposit with a bank against the loans he had obtained from the bank, as a general rule in Article 1287. It means that the bank can get P40,000 in D's savings deposit for its debt amounted P50,000 therefore, the remaining debt of D will just be P10,000.
Yes, the bank has the right to apply the deposit to the payment of the debt. According to the general rule under Article 1287 of the Civil Code of the Philippines, a bank has the right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, the bank has the right to apply the deposit as a payment for the debt to the extent of 40,000, meaning the debtor is still liable for 10,000.
Yes, the bank have the right to apply the deposit for the payment of debtor's debt. Since, the general rule says a bank has the right to set off deposits for the payment of any indebtedness to it on the part of the depositor. Thus, deposits in the bank can serve as the payment.
Salamat po Atty. Maralit and Atty. Uy!
Big help po talaga ito sa oblicon classes ko. Bilang working student, hindi ko po madalas natatapos ang pages to read sa books kasi bumibiyahe pa ko at hindi naman lagi nakakapagbukas ng libro sa opisina. Pero sa pakikinig ko dito during breaks or kapag downtime pati na rin sa biyahe, nakakasagot ako sa recit hehe
Yes. The bank has the right to apply the deposits of D as a payment of his debt because according to the general rule under Article 1287, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In that case, the ₱40,000 deposits of D would be considered as the payment of his debt since he wasn't able to pay in its due time. However, D's total debt is ₱50,000 and therefore still has an obligation to pay for the remaining ₱10,000.
Yes, the bank has the right to apply the deposit to the payment of the debt of D because as stated in the general rule of Article 1287 of the New Civil Code of the Philippines, a bank has the right of set-off of the deposits in the hands for the payment of any indebtedness to it on the part of the depositor. With that case, the deposits of D worth P40,000 in the same bank would set as his payment for his obligation to the bank as he weren't able to pay his indebtedness in it's due time. Through that, D is still liable for the remaining balance worth P10,000 and he still need to pay it for his obligation to be fulfilled.
Yes, the bank has the right to apply the debtor's deposit of 40,000 as the payment for D's debt since it is out of due and it is one of the ways to have the obligation to be extinguished. Since the amount of the debt is 50,000 and it was not paid on due then there is a deposit of 40,000 in the same bank then the bank will recognize D's deposit as the payment of the loan. Then there will be remaining of 10,000 debt from the debtor to the bank.
Yes the bank has the right to take the 40,000 pesos to the deposited amount of the debtor, however the obligation of D is not already extinguish therefore D is still liable for the remaining 10,000 pesos.
Yes, the bank has the right to do such a thing / apply the deposit to the payment of D's debt because it is a relationship between the creditor and the debtor themselves.
And as a general rule, under article 1287, "a bank has the right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor."
But on the other hand, D is still liable for the debt balance of 10,000 pesos.
- Castillo, Patricia
Yes, the bank has the right to apply the deposit to the payment of D's debt because as stated in Article 1287 of the New Civil Code of the Philippines, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of the depositor. It means that the P 40,000 deposit of D to the bank is considered as payment since he was not able to pay it on the due date. Although, the obligation is not yet extinguished since there is still P 10,000 of unpaid loan.
Yes, the bank has the right to apply the deposit to the payment of D's debt. As stated in Article 1287, a bank has a right of set off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Since, the debtor has a savings of amounting P40,000. The bank has the right to set off that deposits as a payment with the debtor's loan. Debts are extinguished up to the amount of P40,000. Hence, D still owes P10,000.
Yes, the bank has the right to apply the deposit of D as payment of his debt. Based on Article 1287, as a general rule, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. This is a legal right that gives the bank to hold D’s savings account. So, the bank can seize the D’s deposit which amounted to P40,000 to offset the amount of his unpaid loan. Since the indebtedness of D amounted to P50,000, the obligation is not extinguished because there are still remaining balance of P10,00O to pay.
Yes, the bank has the right to get the deposited money of D to pay for the debt. According to Article 1287 of the New Civil Code, the general rule to this case is a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Since D cannot accomplish his obligation to pay the bank after a certain period, D's saving account in the bank worth P 40,000 will be considered as a payment to his debt worth P 50,000. Hence, D is still liable to pay the remaining debts worth P 10,000 in order to fully extinguish his obligation.
Yes. Generally, the bank has the right to apply D's Php50,000 delinquent loan amount due, against his existing Php40,000 savings account with the Bank. This is called the right of offset which is normally stipulated in the Loan terms and condition.
If you're not paying your loan amortizations as they become due, your deposit account agreement or loan agreement normally contains an explanation of when the bank may exercise its right to apply the same against your existing deposit.
Yes, because the bank has the right of offset, which means that in case that the debtor failed to settle his debt on time which the bank allow him, in this case 50,000, then the bank can take the money from the debtor's deposit account, which has 40,000 and make payment on the said debt. Moreover, the debtor should not forget that he is still liable for the remaining debt of 10,000.
Yes, the bank has the right to apply the deposit to the payment of D's debt. As a general, which is stated under Article 1287, a bank has a right of set-off of the deposits in hands for the payment of any indebtedness to it on the part of a depositor. Also, the depositor has every right to set-off his money deposit with a bank against the loans he had obtained from said bank. The bank can collect P40, 000 from the D's savings deposit. But the obligation is not yet extinguished because D has a remaining balance of 10,000 to pay.
Yes, if it's mentioned in the contract, that the deposit of the debtor will serve as collateral in case of the debtor's failure to deliver, otherwise the bank will have to ask for the debtor's consent to offset the applicable amount. Moreover, if the debtor is sufficiently delinquent in his payment then the bank can use its legal right to offset or take the debtor's deposit to cover (partially) his loans.
Yes, the bank has the right to apply the savings deposit of D as a payment of his debt. A bank has a right to set-off the deposit on its hand for the payment of any indebtedness on the part of a depositor. So that the bank has the right to take Php 40,000 to the deposited amount of the debtor, but the obligation of D is not already extinguish so that D is still liable for the remaining 10,000 pesos as a character loan in the bank.
Yes, the bank has the right to use the 40,000 deposit of D as the partial payment for his debt amounting to 50,000. Why? Became as stated in the gerenal rule, a bank has the right to set-off the deposit in its hands for the payment of any indebtedness.
Yes I think the bank have the right to apply the deposit to the payment of D's debt. In Article 1287 a bank has a right of set off of the deposits in its hands for the payment of any indebtedness to its on the part of a depositor. Since D's savings worth 40,000 but they not fulfill his obligation they have a balance 10,000
Yes, the bank has the right to apply the deposit of D to the payment of his debt. As a general rule, a bank has a right to set-off the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, the bank has the right to set off account balances of D in the amount of P40,000 against his obligation owed to the bank in the amount of P50,000. However, the obligation will not be totally extinguished as D is still liable to pay the balance of his debt amounting to P10,000.
Yes, the bank has the right to get the deposited money of D to pay for his debt. It is in accordance with the general rule that a bank has a right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. It means that D's savings account in the same bank worth P40,000 is considered as payment for his debt since he can't accomplish his obligation to pay the bank after a certain period. Hence, D is still liable to pay the remaining P10,000 in order to extinguish his obligation.
Yes, the bank has the right to apply the deposit to the payment of D's debt. Under the law, the general rule to this case is a bank has a right to set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor.
Yes, the bank has the right to apply the deposit for the payment of D's debt. Under the general rule of the Civil Code, a bank has a right to set-off the deposits in its hand for the payment of any indebtedness on the part of a depositor. In that case, the deposit of D which amounted to P40,000 would be considered as the payment of his debt since he cannot comply to his obligation. However, his obligation will not be totally extinguished since he is still liable for the remaining balance of P10,000.
Yes, the bank has the right to do such thing. As a general rule under article 1287 "a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor". Same as to the D he or she has every right to set-off his money
deposit with a bank against the loans he had obtained from said bank. On the other hand the deposit of D is not enough to set off his or her indebtedness and still liable for the debt balance of 10000 pesos.
Yes, the bank has the right to apply the deposit to the payment of D's debt. Under the law, as a general rule, a bank has a right of set- off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, he will still be liable to P10,00 since he has only a deposit of P40,000 on the said bank.
Yes, since according to the general rule under Art. 1287, a bank has a right to set-off the deposits in its hands for the payment of any indebtedness to it on the part of any depositor. And D, being the depositor will be paid for the P40,000 since he has a savings of the same amount, but he is still liable for the reaming P10, 000 of his full debt of P50,000.
Yes, the bank has the right to apply the deposit for the payment of the debtor's indebtedness. For this reason, under the Civil Code of the Philippines, a bank can take the stated deposits to cover missed payments that the debtor have with them. The right of set-off or offset is being done on this scenarios. This might seem unreasonable at first blush, but right of offset is perfectly legal as long as a bank or credit union follows the rules. With this regard, the Php 40,000 can now be cover by the debtor's savings account, and he is still liable for the remaining debts which amounted to Php 10,000.
- BSMA 2101
Yes, the bank has the right to apply the deposit to the payment of D's debt. The general rule is, the bank has the right of set-off of the deposits in its hands for the payment of any indebtedness to the part of the depositor. It is likewise that the depositor has every right to set off the money he deposited in the bank against the loans he had obtained from it. With this, the bank can get the P40,000 savings of D. The obligation is not extinguished because D is still liable to pay P10,000.
Yes, the bank has the right to apply the savings deposit of D as a paymemt of his deb. It is stated in general rule that, "a bank has a right of set-off on the deposits in its hand as a payment of any indebtedness by the depositor". But as stated, the total amount of D's debt is 50,000 and the his deposits in bank is only 40,000, so 40,000 is the only amount the bank can offset and D is still liable for the 10,000 remaining debt.
Under the civil code, The bank has the right to apply the savings deposit of D as a payment to the debt, But the consent of D should be giving consideration as when all P40,000 got applied then the account will be close. Also, the bank may issue penalty and demand to D the fulfillment of obligation before directly applying it as a payment. Still, the basis is the stipulation agreed by both parties especially that a loan is considered unsecured wherein there is no collateral and the bank's faith to D is the basis of the loan.
Yes, the bank has the right to apply the deposit of D as partial compensation of his debt because the relationship between them is that of a creditor and debtor.
Yes, the bank has the right to apply the deposit to the payment of D's debt since it created a relationship of creditor and debtor. It was also stated as a general rule that a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor.
Yes, the bank has the right to apply the deposit to the payment of D's debt because according to Article 1287, as a general rule, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. Similarly, the depositor which is D also has every right to set off his money deposit with a bank against the loans he had obtained from the bank. It means that the bank can get in D's savings deposit for its debt therefore, the remaining debt of D will be P10,000.
Gooday sir,
Yes, the bank has the right to apply the savings deposit of D as a payment of his debt. A bank has the right to set-off the deposit in its hand for the payment of any indebtedness on the part of a depositor. In that case the deposit of D which is 40,000 will be the payment for his debt. But D is still liable to pay the remaining balance which is 10,000.
Yes, the bank has the right to apply the deposit to the payment of D's debt because a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank .
Yes, I think the bank have the right to apply the deposit to the payment of D's debt because under the general rule, a bank has the right to set-off of the deposits in its hands for the payment of any indebtness to it on the part of a deposit. So in this situation, the bank can get the 40,000 from D's deposit as partial payment, and D is liable to pay 10,000 to extinguish his obligation.
Yes, the bank has the right to apply the deposit for the payment of D's debt because as a general rule under Art. 1287 "a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor". In this case, the bank can get the 40,000 from D's deposit as partial payment, and D is still liable to pay 10,000 to entirely extinguish his obligation.
Yes, the bank has the right to apply the savings deposit of D as a payment for his/her debt. A bank deposit is a loan that creates a relationship of debtor and creditor. Likewise, D's character loan also created such relationship, making them a creditor and debtor of each other. And under the new Civil Code, as a general rule, the bank has a right of set-off on the deposits in its hands for the payment of any indebtedness incurred by a depositor. Hence, the bank can offset D's P40,000 deposit for his/her P50,000 debt, however this will not totally extinguish the obligation yet. D is still liable to pay his/her remaining P10,000 character loan in the bank.
Yes, the bank has the right to apply the deposit for the payment of D's debt. The law provides that a bank has the right of set off the deposits in its hands for the payment of any indebtedness of a depositor. Compensation exists but only to the extent of P40,000. D is still liable for his remaining P10,000 character loan from the bank.
According to the general rule under Article 1287, a bank has a right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of the depositor. As a result, the bank has the right to apply D's savings as a payment of his debt. However, he is still liable for his remaining debt amounting to Php10,000 because as stated, D's total debt is Php50,000 and his deposit in the bank is only Php40,000.
The bank has the right to apply the deposit to the payment of D's debt because the bank can set-off of the deposits in its hands for the payment of D's indebtedness to it. But the depositor which is D also has every right to set off his money deposit with a bank against the loans he had obtained from the bank, as a general rule in Article 1287. It means that the bank can get P40,000 in D's savings deposit for its debt amounted P50,000 therefore, the remaining debt of D will just be P10,000.
Yes, the bank has the right to apply the deposit to the payment of the debt. According to the general rule under Article 1287 of the Civil Code of the Philippines, a bank has the right of set-off of the deposits in its hands for the payment of any indebtedness to it on the part of a depositor. In this case, the bank has the right to apply the deposit as a payment for the debt to the extent of 40,000, meaning the debtor is still liable for 10,000.
Yes, the bank have the right to apply the deposit for the payment of debtor's debt. Since, the general rule says a bank has the right to set off deposits for the payment of any indebtedness to it on the part of the depositor. Thus, deposits in the bank can serve as the payment.