Practice question
Does a bank’s high diligence duty depend solely on the customer having a large balance?
- Yes, small accounts have no protection
- Yes, only corporate customers matter
- Yes, only famous clients matter
- No, account size alone does not remove the bank’s duty
- Yes, only shareholders receive care
Legal references
- https://lawphil.net/statutes/repacts/ra2000/ra_8791_2000.html — RA 8791, section 2
- https://lawphil.net/judjuris/juri2010/aug2010/gr_165339_2010.html — Equitable PCI Bank v. Tan, G.R. No. 165339, August 23, 2010, main opinion
Answer this question in flashcards to review your response and continue practicing.