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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 426. Are Lawyers liable?
11 January 2011 @ 09:09

An answer to a member of the forum who asked today if Lawyers can made accountable if the wording of off plan contracts does not meet the legal requirements for protection of buyers.

Our answer:
 
Yes, if you hired a lawyer to represent you for conveyancing, your representation had to be covered by Contract Law principles, Law 57/68, Consumers regulations, advised text for off plan purchases of the Consumers National Institute... That is why you hired your legal representative.

According to provision 2 of Law 57/68 ( you can see full text in English by clicking on here)  both name of Bank or saving Bank receiving the advanced amounts by buyers in off plan purchases and account number need to be contained in the contract.
 
The expression of these data on the sales contract is actually part of the guarantees that Law 57/68 brings. It is part of the tuition that the necessary existence of a Bank/Saving Bank among the operators of these businesses was supposed to bring to this market.

In my opinion, the full meaning of the presence of Banks here has been very poorly understood, or better said, well understood by just few. It maybe is because the legal role assigned to Banks by the legislator in Law 57/68 is not comfortable to a ultragreedy market or because what the social role of a  Bank was in 1968 is very different  to what  it ended up being in the late 90`s and the 00´s

Nothing extraordinary: a revision on the nature of money, financial institutions and persons within the understanding of economy and society is needed. This unfocused events just happen once in a while :) Again: personalist philosophers come! Quickly!

Best to you all and........ please ;) rise your hopes!

Maria 

"Golf Club La Alcaidesa", by Luis López-Cortijo



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