This case has been cited 1 times or more.
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2007-10-15 |
SANDOVAL-GUTIERREZ, J. |
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| Furthermore, it bears emphasis that the disputed check is a cashier's check. In International Corporate Bank v. Spouses Gueco,[3] this Court held that a cashier's check is really the bank's own check and may be treated as a promissory note with the bank as the maker. The check becomes the primary obligation of the bank which issues it and constitutes a written promise to pay upon demand. In New Pacific Timber & Supply Co. Inc. v. Señeris,[4] this Court took judicial notice of the "well-known and accepted practice in the business sector that a cashier's check is deemed as cash." This is because the mere issuance of a cashier's check is considered acceptance thereof. | |||||