Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 170 views

    Notes On BP22 Atty. Domingo

    Uploaded by

    thalia alfaro
    The document summarizes Philippine law on bouncing checks. It outlines that it is illegal to write checks knowing there are insufficient funds to cover them. It is also illegal to fail to keep enough money in your account to cover checks within 90 days. The law defines penalties for bouncing checks as fines or imprisonment. It also discusses what constitutes evidence of knowingly bouncing a check and the duties of banks in recording reasons for dishonoring checks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Notes On BP22 Atty. Domingo

    Uploaded by

    thalia alfaro
    170 views2 pages
    The document summarizes Philippine law on bouncing checks. It outlines that it is illegal to write checks knowing there are insufficient funds to cover them. It is also illegal to fail to keep enough money in your account to cover checks within 90 days. The law defines penalties for bouncing checks as fines or imprisonment. It also discusses what constitutes evidence of knowingly bouncing a check and the duties of banks in recording reasons for dishonoring checks.

    Original Description:

    Original Title

    Notes-on-BP22-Atty.-Domingo

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document summarizes Philippine law on bouncing checks. It outlines that it is illegal to write checks knowing there are insufficient funds to cover them. It is also illegal to fail to keep enough money in your account to cover checks within 90 days. The law defines penalties for bouncing checks as fines or imprisonment. It also discusses what constitutes evidence of knowingly bouncing a check and the duties of banks in recording reasons for dishonoring checks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    170 views2 pages

    Notes On BP22 Atty. Domingo

    Uploaded by

    thalia alfaro
    The document summarizes Philippine law on bouncing checks. It outlines that it is illegal to write checks knowing there are insufficient funds to cover them. It is also illegal to fail to keep enough money in your account to cover checks within 90 days. The law defines penalties for bouncing checks as fines or imprisonment. It also discusses what constitutes evidence of knowingly bouncing a check and the duties of banks in recording reasons for dishonoring checks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    BOUNCING CHECKS LAW

    Bouncing Checks Law (BP 22): Effective on June 29, 1979

    Checks without sufficient funds:


    1. Any person who makes or draws and issues any check to apply on account or for value, knowing at the
    time of issue that he does not have sufficient funds in or credit with the drawee bank for the payment of
    such check in full upon its presentment, which check is subsequently dishonored by the drawee bank for
    insufficiency of funds or credit or would have been dishonored for the same reason had not the drawer,
    without any valid reason, ordered the bank to stop payment, shall be punished by imprisonment of not
    less than thirty days but not more than one (1) year or by a fine of not less than but not more than double
    the amount of the check which fine shall in no case exceed Two Hundred Thousand Pesos, or both such
    fine and imprisonment at the discretion of the court.
    2. The same penalty shall be imposed upon any person who, having sufficient funds in or credit with the
    drawee bank when he makes or draws and issues a check, shall fail to keep sufficient funds or to
    maintain a credit to cover the full amount of the check if presented within a period of ninety (90) days
    from the date appearing thereon, for which reason it is dishonored by the drawee bank. Where the check
    is drawn by a corporation, company or entity, the person or persons who actually signed the check in
    behalf of such drawer shall be liable under this Act.

    Elements of Violation of Bouncing Checks Law (BP 22):


    1. The making, drawing, and issuance of any check to apply for account or for value;
    2. The knowledge of the maker, drawer, or issuer that at the time of issue he does not have sufficient funds
    in or credit with the drawee bank for the payment of the check in full upon its presentment; and
    3. The subsequent dishonor of the check by the drawee bank for insufficiency of funds or credit or
    dishonor for the same reason had not the drawer, without any valid cause, ordered the bank to stop
    payment.

    Preference of imposition of fine:


    1. Administrative Circular 12-2000 does not remove imprisonment as an alternative penalty for violations
    of BP 22;
    2. The Judges concerned may, in the exercise of sound discretion, and taking into consideration the
    peculiar circumstances of each case, determine whether the imposition of a fine alone would best serve
    the interests of justice or whether forbearing to impose imprisonment would depreciate the seriousness
    of the offense, work violence on the social order, or otherwise be contrary to the imperatives of justice;
    3. Should only a fine be imposed and the accused be unable to pay the fine, there is no legal obstacle to the
    application of the Revised Penal Code provisions on subsidiary imprisonment.

    Evidence of knowledge of insufficient funds: The making, drawing and issuance of a check payment of which is
    refused by the drawee because of insufficient funds in or credit with such bank, when presented within ninety
    (90) days from the date of the check, shall be prima facie evidence of knowledge of such insufficiency of funds
    or credit unless such maker or drawer pays the holder thereof the amount due thereon, or makes arrangements
    for payment in full by the drawee of such check within (5) banking days after receiving notice that such check
    has not been paid by the drawee.

    Duty of drawee; rules of evidence: It shall be the duty of the drawee of any check, when refusing to pay the
    same to the holder thereof upon presentment, to cause to be written, printed, or stamped in plain language
    thereon, or attached thereto, the reason for drawee's dishonor or refusal to pay the same: Provided, That where
    there are no sufficient funds in or credit with such drawee bank, such fact shall always be explicitly stated in the
    notice of dishonor or refusal. In all prosecutions the introduction in evidence of any unpaid and dishonored
    check, having the drawee's refusal to pay stamped or written thereon or attached thereto, with the reason
    therefor as aforesaid, shall be prima facie evidence of the making or issuance of said check, and the due
    presentment to the drawee for payment and the dishonor thereof, and that the same was properly dishonored for
    the reason written, stamped or attached by the drawee on such dishonored check. Notwithstanding receipt of an
    order to stop payment, the drawee shall state in the notice that there were no sufficient funds in or credit with
    such bank for the payment in full of such check, if such be the fact.

    Credit construed: The word “credit” shall be construed to mean an arrangement or understanding with the bank
    for the payment of such check.

    You might also like