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Rural Bank of M-wps Office

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  RURAL BANK OF MILAOR v. OCFEMIARURAL BANK OF MILAOR v. OCFEMIAG.R. No. 137686; February 8, 2000Ponente: J. VitugFACTS: The evidence presented by the respondents through the tesmony of Marife O. Niño, shows that she is the daughter of Francisca Ocfemia and the late Renato Ocfemia who died on July 23, 1994. The parents of her father, Renato Ocfemia, were Juanita Arellano Ocfemia and Felicisimo Ocfemia. Marife O. Niño knows the ve (5) parcels of land which are located in Bombon, Camarines Sur and that they are the ones possessing them which were srcinally owned by her grandparents. During the lifemeof her grandparents, respondents mortgaged the said ve (5) parcels of land and two (2) others to the Rural Bank of Milaor.The spouses Felicisimo Ocfemia and Juanita Arellano Ocfemia were not able to redeem the mortgaged properes consisng of 7 parcels of land and so the mortgage was foreclosed and thereaer ownership thereof was transferred to the bank. Out of the 7 parcels that were foreclosed, 5 of them are in the possession of the respondents because these 5 parcels of land were sold by the bank to the parents of Marife O. Niño as evidenced by a Deed of Sale executed in January 1988.The aforemenoned 5 parcels of land subject of the deed of sale, have not been, however transferred in the name of the parents of Merife O. Niño aer they were sold to her parents by the bank because according to the Assessor's Oce the ve (5) parcels of land, subject of the sale, cannot be transferred inthe name of the buyers as there is a need to have the document of sale registered with the Register of Deeds of Camarines Sur.In view of the foregoing, Marife O. Niño went to the Register of Deeds of Camarines Sur with the Deed of Sale in order to have the same registered. The Register of Deeds, however, informed her that the document of sale cannot be registered without a board resoluon of the Bank. Marife Niño then went tothe bank, showed to it the Deed of Sale, the tax declaraon and receipt of tax payments and requested  the bank for a board resoluon so that the property can be transferred to the name of Renato Ocfemia the husband of peoner Francisca Ocfemia and the father of the other respondents having died already.Despite several requests, the bank refused her request for a board resoluon and made many alibis. Shewas told that the bank had a new manager and it had no record of the sale. ISSUE: Whether the board of directors of a rural banking corporaon be compelled to conrm a deed of absolute sale of real property which deed of sale was executed by the bank manager without prior authority of the board of directors of the rural banking corporaonHELD: Yes, the board of directors can be compelled to conrm a deed of absolute sale even though the bank manager executed such deed without prior authority from the banking corporaon.The Supreme Court ruled that the bank acknowledged, by its own acts or failure to act, the authority of the manager to enter into binding contracts. Aer the execuon of the Deed of Sale, respondents occupied the properes in dispute and paid the real estate taxes due thereon. If the bank management believed that it had tle to the property, it should have taken some measures to prevent the infringement or invasion of its tle thereto and possession thereof.In this light, the bank is estopped from quesoning the authority of the bank manager to enter into the contract of sale. If a corporaon knowingly permits one of its ocers or any other agent to act within thescope of an apparent authority, it holds the agent out to the public as possessing the power to do those acts; thus, the corporaon will, as against anyone who has in good faith dealt with it through such agent,be estopped from denying the agent's authority.  Unquesonably, peoner has authorized Tena to enter into the Deed of Sale. Accordingly, it has a clear legal duty to issue the board resoluon sought by respondents. Having authorized her to sell the property, it behooves the bank to conrm the Deed of Sale so that the buyers may enjoy its full use.CUISON vs. CA and ValiantG.R. No. 88539October 26, 1993 FACTS: Kue Cuison is a sole proprietorship engaged in the purchase and sale of newsprint, bond paper and scrap.Valiant Investment Associates delivered various kinds of paper products to a certain Tan. The deliveries were made by Valiant pursuant to orders allegedly placed by Tiac who was then employed in the Binondo oce of peoner. Upon delivery, Tan paid for the merchandise by issuing several checks payable to cash at the specic request of Tiac. In turn, Tiac issued nine (9) postdated checks to Valiant as payment for the paper products. Unfortunately, sad checks were later dishonored by the drawee bank.Thereaer, Valiant made several demands upon peoner to pay for the merchandise in queson, claiming that Tiac was duly authorized by peoner as the manager of his Binondo oce, to enter into the quesoned transacons with Valiant and Tan. Peoner denied any involvement in the transacon entered into by Tiac and refused to pay Valiant.Le with no recourse, private respondent led an acon against peoner for the collecon of sum of money represenng the price of the merchandise. Aer due hearing, the trial court dismissed the complaint against peoner for lack of merit. On appeal, however, the decision of the trial court was modied, but was in eect reversed by the CA. CA ordered peoner to pay Valiant with the sum plus interest, AF and costs.  ISSUE: WON Tiac possessed the required authority from peoner sucient to hold the laer liable for the disputed transacon HELD: YES As to the merits of the case, it is a well-established rule that one who clothes another with apparent authority as his agent and holds him out to the public as such cannot be permied to deny the authority of such person to act as his agent, to the prejudice of innocent third pares dealing with such person in good faith and in the honest belief that he is what he appears to beIt maers not whether the representaons are intenonal or merely negligent so long as innocent, third persons relied upon such representaons in good faith and for value. Arcle 1911 of the Civil Code provides:“Even when the agent has exceeded his authority, the principal is solidarily liable with the agent if the former allowed the laer to act as though he had full powers.”The above-quoted arcle is new. It is intended to protect the rights of innocent persons. In such a situaon, both the principal and the agent may be considered as joint toreasors whose liability is joint and solidary.
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