Practice question
In an ordinary bank money deposit, which is the bank's position relative to the depositor?
- The bank is always the creditor of that deposit amount.
- The bank is debtor and the depositor creditor.
- Both become partners automatically.
- The bank becomes the depositor's child.
- No legal obligation arises.
Legal references
- Civil Code, Articles1953 and1980: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- RA8791, General Banking Law, Sections2 and55: https://lawphil.net/statutes/repacts/ra2000/ra_8791_2000.html
- BDO Unibank v. People, GR255367, October2 2024, main decision: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/1/69675
Answer this question in flashcards to review your response and continue practicing.