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CASA Not Negligent in Its Financial Affairs

In this jurisdiction, the negligence of the party invoking forgery is recognized as an


exception114 to the general rule that a forged signature is wholly inoperative.115
Contrary to BPIs claim, however, we do not find CASA negligent in handling its
financial affairs. CASA, we stress, is not precluded from setting up forgery as a real
defense.

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