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	GR NO. 129910 2006-09-05	INTERNATIONAL CORPORATE BANK v. CA CARPIO, J.
In its 10 October 1991 Decision,[8] the Court of Appeals reversed the trial court's Decision. Applying Section 4(c) of Central Bank Circular No. 580, series of 1977,[9] the Court of Appeals held that checks that have been materially altered shall be returned within 24 hours after discovery of the alteration. However, the Court of Appeals ruled that even if the drawee bank returns a check with material alterations after discovery of the alteration, the return would not relieve the drawee bank from any liability for its failure to return the checks within the 24-hour clearing period. The Court of Appeals explained:Does this mean that, as long as the drawee bank returns a check with material alteration within 24 hour[s] after discovery of such alteration, such return would have the effect of relieving the bank of any liability whatsoever despite its failure to return the check within the 24- hour clearing house rule?
	GR No. 121413 2001-01-29	PHILIPPINE COMMERCIAL INTERNATIONAL BANK v. CA QUISUMBING, J.
Moreover, as correctly pointed out by Ford, Section 5[31] of Central Bank Circular No. 580, Series of 1977 provides that any theft affecting items in transit for clearing, shall be for the account of sending bank, which in this case is PCIBank.