Managuelod, a college Dean of PC University, executed a special power of attorney authorizing Zabala, a department of Accountancy, to secure a loan from any bank and to mortgage his property covered by Transfer Certificate of Title No. 123456. Zabala was able to secure a loan from BPI without specifying that he was acting for Managuelod in the transaction with said bank. Is Managuelod liable for the bank loan? Why or why not? Justify your answer.