PERSONS AND FAMILY RELATIONS SLC-LAW

DIGEST 5: AAA vs BBB

TOPIC: Sources of Obligation

G.R. No. 183204               January 13, 2014

PETITIONER: THE METROPOLITAN BANK AND TRUST COMPANY
RESPONDENTS: ANA GRACE ROSALES AND YO YUK TO

FACTS:

Prior to and during the pendency of a criminal complaint of Estafa through False Pretenses filed by the Petitioner
Metropolitan Bank and Trust Company against Ana Grace Rosales, the former issued, as per the hold out clause in the
deposit agreement, a “Hold Out” order wherein the latter was disallowed to withdraw her deposited money from the
said bank.

ISSUE:

Whether or not the issued Hold Out order was valid.

HELD:

No, the issued Hold Out order was not valid.

The "Hold Out" clause applies only if there is a valid and existing obligation arising from any of the sources of obligation
enumerated in Article 115779 of the Civil Code, to wit: law, contracts, quasi-contracts, delict, and quasi-delict. In this
case, petitioner failed to show that respondents have an obligation to it under any law, contract, quasi-contract, delict,
or quasi-delict.

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