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A deposited P100,000.00 in his savings account, which he maintains with the Bank of the Philippine Islands (BPI). Did A and BPI enter into A.)

A deposited P100,000.00 in his savings account, which he maintains with the Bank of the Philippine Islands (BPI). Did A and BPI enter into A.) Contract of Loan or B.) Contract of Deposit? Indicate the letter of your choice, and state your legal basis and justification for your answer over the other given choice.

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