Commercial Law, 2012 Bar — Question 78

MULTIPLE CHOICE

X is a depositor of AAA Bank. She has three (3) deposit accounts all under her name. One, in checking account, one in saving account and another one in time deposit account. Each account has a balance of Php250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. Which statement is most accurate? A) X can claim a total of Php500,000 for all the three (3) accounts. B) X can only claim from one (1) account of Php250,000. C) X can claim a total of Php750,000 from all the three (3) accounts. D) X cannot claim anything from any of the deposit accounts.

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