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10 Oct 2011GR
172954Ponente: Villarama, Jr. J.Petitioner/s: Engr. Jose Cayanan , owner of a recruitment age
ncy
JEAC Intl Mgmt and Contractor ServicesRespondent: North Star International Travel
a travel agency
Sec 24: Presumption of ConsiderationFACTS:
North Star extended credit to Cayanan for air tickets of clients - P510,034.47, and for
payment to ViewSea Ventures of the amounts of $60,000 which came from respondent
General Manager
North Star did not give any valuableconsideration for the checks since the US$85,000 was
taken from the personal dollar account ofVirginia and not the corporate funds of North Star,
the fact that petitioner himself specifically namedNorth Star as the payee of the checks is an
admission of his liability to North Star and not to VirginiaBalagtas. Also, his defense that
dollars sent to View Sea in Nigeria was Virginia
s own investment could not holdas she only remitted such money due to Cayanan
s request/ instructions
this he never denied. It washim who had business transactions with View Sea and not
Virginia.
Transaction between North Starand Cayanan was actually in the nature of a loan, and checks
were issued as payment of suchhence there was no absence of consideration for the issuance
of checks.