Legal tip 701. Valladolid Appeal Court and full liability of Banks
Saturday, February 11, 2012 @ 10:12 PM
A recent Court decission by Valladolid Appeal Court, dated 17th of January 2012, establishes:
- Liability of guarantoor is for ALL the amounts paid to developer ( and interests)
- Bank Guarantee or Insurance Policy´s limitations to that full liability are against Law.
This interpretation follows the doctrine of Bank of Spain on liability of guarantoor for all deposits paid established since 2008.
These flexible interpretations are in accordance ( as the Valladolid Court decission says) to the spirit of Law 57/68: clearly of protection of buyers in situations of risk unbalance among contract parties.
Common sense expanding...
Cheers,
Maria
.jpg)
"2011 Conil de la Frontera", Cádiz, by jose_gonzalvo, at flickr.com