COURT FROM VALENCIA ENFORCES A TRAMPOLIN'S BANK GUARANTEE COPY FROM LA CAIXA THAT WAS CANCELLED BEFORE THE NOTARY
As you probably know from previous posts of mine, the rights recognized by the 57/68 Act cannot be waived, so any clause or agreement against the rules of Act could be claimed void and, consequently, wouldn't be enforceable against the purchaser.
And this reasoning has been used by the Valencia First Instance Court to reject the opposition lodged by Caixabank against the enforcement of a bank guarantee's copy that I did file on behalf a purchaser of Trampolin Hills Golf Resort.
In this specific case, the purchaser just held a copy of his bank guarantee because the original was given back to the developer and the Bank and was also cancelled before the Notary, after being promissed that Bank would release a new bank guarantee, which included an extended expiration date and the name of the other buyers stated on contract. But, as you probably imagine, the Bank never gave the new bank guarantee to this purchaser, who was forced to take the case to Court.
And the Distric Court from Valencia has sentenced that the aforementioned bank guarantee copy is enforceable, no matter the lack of the original and the signature of the cancellation deed. About the fact that the buyer just held a copy, Court understands that to hold the original guarantee is not a legal requirement under the provisions of the 57/68 Act, so copies are enforceable too. Regarding the signature of a the cancellation deed, the Courts states that the 57/68 Act establishes that purchaser's rights recognized by Law cannot be waived so, consequently, the cancellation's deed is not enforceable against the buyer, who didn't intend to waive to his rights, as the cancellation deed was signed only on the condition that a new bank guarantee will be given.
As you may guess, our Law Firm is really proud and happy with the outcome of the claim, as the legal side of the case was complicated.
To get further information, do not hesitate to contact me on guadalupe@gmlegalexperts.com, or follow me on my blog http://gmlegalexperts.blogspot.com.es/