ASSIGNMENT: MEMO ON FACTS AND LAW

 Client of the lawyer – Z Bank

o Private Bank
o Address: Taguig City
o Bank Representative: Jonnel
 Branch Manager
o Resides in Mandaluyong, City
o Monthly Compensation: PHP20k
o Regular employee
o absent without leave for 2 weeks already
o Manager received payment (PHP100k) before he left the company
o Money is not in her cabinet in the bank
o Feels that the money is with her
o First time to happen
o Madonna and the branch manager is not related to each other
 Accounts of their clients – pass due already
o Madonna – one of the clients (paying client and is valued client of the bank)
o Madonna’s contention was that she gave her payment to the bank manager
and then she received an acknowledgment receipt for her payment (not an
official receipt)
o Pays in San Juan City
o Contract:
 Loan is PHP10M for 10 years
 Monthly Installments Interest Rate: 6% per annum
 3 years paid/ 36 payments already paid
 Grace period (penalty clause) – interest is 1% of monthly
amortization
 No venue stated
 Loan secured by real estate mortgage
 REM is lot in Tagaytay
 Value: PHP 10M
o Practice of the bank: their client must go to the bank to pay their monthly
amortization