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DEVELOPMENT BANK OF PHILIPPINES v. SPS. FRANCISCO ONG AND LETICIA ONG

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GR NO. 154493
2006-12-06
REYNALDO VILLANUEVA v. PHILIPPINE NATIONAL BANK
AUSTRIA-MARTINEZ, J.
Neither did SAMD have authority to bind PNB. In its April 1989 invitation to bid, as well as its July 6, 1990 counter-offer, SAMD was always careful to emphasize that whatever offer is made and entertained will be subject to the approval of respondent's higher authorities. This is a reasonable disclaimer considering the corporate nature of respondent. [34]