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PHILIPPINE REPORTS ANNOTATED VOLUME 084

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Case Title: Select some text within a
ALLISON J. GIBBS, as executor paragraph and click here to
of the will of A. D. Gibbs, copy the selected text. Citation
deceased, ALLISON J. GIBBS and included.
FINLEY J. GIBBS, plaintiffs and
appellees, vs. EULOGIO
RODRIGUEZ, SR., LUZON,
SURETY Co., INC., PHILIPPINE
[No. L-1494. August 3, 194
NATIONAL BANK and MARIANO
VILLANUEVA, as Register of
Deeds, defendants and
ALLISON J. GIBBS,
appellants. executor of the will of A.
Citation: 84 Phil. 230 Gibbs, deceased, ALLISO
J. GIBBS and FINLEY
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GIBBS, plaintiffs a
appellees, vs. EULOG
Search Result RODRIGUEZ, SR., LUZON
1. annum, except only in special
case where they may be
waived." For that reason the
creditors or depositors of the
banks were allowed to withdraw
VOL. 84, AUGUST 3, 2
restricted amounts only from
their deposits as a protective 1849
measure to prevent runs on
banks owned or controlled by the Gibbs vs. Rodriguez
enemy nationals, which would
result from mass withdrawals.
And it is incorrect or contrary to
facts to say, as Professor Hyde SURETY Co., IN
avers, that "only about ten per
cent of the deposits of foreigners
PHILIPPINE NATION
were allowed to be withdrawn". BANK and MARIAN
For what we have found in our VILLANUEVA, as Regis
decision in the Haw Pia case is
the following: "That the of Deeds, defendants a
liquidation or winding up of the appellants.
business of the China Banking
Corporation and other enemy
banks did not consti VOL. 84, 1. OBLIGATIONS AN
AUGUST 3
CONTRACTS;
PAYMENT; DE
PAYABLE
AMERICAN
DOLLARS OR I
EQUIVALENT
PHILIPPINE PES
BOTH CURREN
AS LEG
TENDER.—
Whatever mig
have been
intrinsic or extrin
worth of
Japanese war no
which the Bank
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