Ad Majorem.....
In the celebrated Maunlad Savings vs. Nubla, the lower courts and the upper court ruled and upheld that Nubla did not have loan obligation with the bank (Maunlad Savings) despite the presence of other loan docuiments: loan agreement, loan release sheet, (the voucher) and promissory note because the bank failed to document the most important aspect of the loan - receipt of the loan proceed.
Nubla instructed the bank to assign/pay directly an obligor the loan proceeds. The bank failed to make Nubla acknowledge that in fact the assignment was a receipt of the loan proceeds.
In the absence of such an acknowledgement or proof of receipt, Nubla maintained that he never received the loan and was not going to pay for it.
The courts ruled in his favor. What a neat way of fooling people, and/or making a living, and the court simply love him/it.
In the celebrated Maunlad Savings vs. Nubla, the lower courts and the upper court ruled and upheld that Nubla did not have loan obligation with the bank (Maunlad Savings) despite the presence of other loan docuiments: loan agreement, loan release sheet, (the voucher) and promissory note because the bank failed to document the most important aspect of the loan - receipt of the loan proceed.
Nubla instructed the bank to assign/pay directly an obligor the loan proceeds. The bank failed to make Nubla acknowledge that in fact the assignment was a receipt of the loan proceeds.
In the absence of such an acknowledgement or proof of receipt, Nubla maintained that he never received the loan and was not going to pay for it.
The courts ruled in his favor. What a neat way of fooling people, and/or making a living, and the court simply love him/it.
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