satisfied.

72
Second Issue:
Negligence Attributable to BPI Alone
Having established the forgery of the drawers signature, BPI -- the drawee -- erred
in making payments by virtue thereof. The forged signatures are wholly inoperative,
and CASA -- the drawer whose authorized signatures do not appear on the
negotiable instruments -- cannot be held liable thereon. Neither is the latter
precluded from setting up forgery as a real defense.
Clear Negligence in Allowing Payment Under a Forged Signature