Text of the provision
Art. 1980. Fixed, savings, and current deposits of money in banks and similar institutions shall be governed by the provisions concerning simple loan.
(n)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
Fixed, savings, and current bank deposits are governed by the rules on simple loan (mutuum), not deposit — the bank owns the money and owes an equal amount. The statutory basis of the bank-depositor debtor-creditor relationship.
Related provisions
- Article 1979 — Liability for Fortuitous Loss.
- Article 1981 — Sealed Deposits.
Cases citing this article
- Joseph Goyanko, Jr., as administrator of the Estate of Joseph Goyanko, Sr. vs. United Coconut Planters Bank, Mango Avenue Branch, G.R. No. 179096, February 6, 2013 — read the decision on LawPhil →
- Banco De Oro Unibank, Inc. vs. the People of the Philippines, and Ruby O. Alda, G.R. No. 255367, October 02, 2024 — read the decision on LawPhil →
- Yon Mitori International Industries vs. Union Bank of the Philippines, G.R. No. 225538, October 14, 2020 — read the decision on LawPhil →
- Bank of the Philippine Islands vs. Land Investors and Development Corporation, G.R. No. 198237, October 8, 2018 — read the decision on LawPhil →
- Metropolitan Bank and Trust Company vs. Junnel's Marketing Corporation, et al./Bank of Commerce vs. Junnel's Marketing Corporation, et al, G.R. No. 235511 / G.R. No. 235565, June 20, 2018 — read the decision on LawPhil →
Compiled automatically from Supreme Court decisions published on LawPhil that expressly cite this article, most frequently cited first. A listing means the decision cites the provision — it is not a statement that the case is the leading authority, and it does not show whether a ruling has since been modified or abandoned. Always read the decision itself.