Practice question
Linsangan rejected the argument that the claimant needed personal notice of a duly published PDIC regulation. What was the relevant notice principle?
- Every depositor must sign an individual waiver of notice.
- Publication has no legal significance.
- Publication supplied constructive notice; personal notice to every depositor was unnecessary.
- Only oral advice from a teller can make a regulation binding.
- A regulation binds only the bank's shareholders.
Legal references
- RA 10846, deposit splitting prohibition and definition: https://lawphil.net/statutes/repacts/ra2016/ra_10846_2016.html
- Linsangan v. PDIC, G.R. No. 228807, February 11, 2019, main decision: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/23/64987
- RA 11840, Section 4 amending PDIC Charter Section 5(k): https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/95626
Answer this question in flashcards to review your response and continue practicing.