[ G.R. No. L-1345, November 10, 1948 ]
HONGKONG & SHANGHAI BANKING CORPORATION, PLAINTIFF AND APPELLEE, VS. LUIS PEREZ SAMANILLO, INC., AND REGISTER OF DEEDS OF MANILA, DEFENDANTS AND APPELLANTS.
D E C I S I O N
OBLIGATIONS AND CONTRACTS; VALIDITY OF PAYMENT IN JAPANESE MILITARY NOTES. The facts of this case are similar to those in Haw Pia vs. China Banking Corporation (80 Phil., 604), and the questions raised are the same as in that case, wherein this Court held that the payment made in Japanese war notes by Haw Pia to the Bank of Taiwan, Ltd., to satisfy his indebtedness to the China Bank, which was being liquidated by order of the Japanese Military Administration which appointed the Bank of Taiwan as liquidator of the so-called enemy banks, was valid and released Haw Pia from his obligation to the China Banking Corporation.