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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Regulating Unfair Banking Practices in Europe: The Case of Personal Suretyships

Edited by: Aurelia Colombi Ciacchi, Stephen Weatherill

ISBN13: 9780199594559
Published: August 2010
Publisher: Oxford University Press
Country of Publication: UK
Format: Hardback
Price: £122.50

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Private persons often stand surety for a business debt incurred by family members, friends, or employers.

These suretyships are commonly banking guarantees contracted by means of standard terms. Sometimes the guarantor signs the contract while he/she is not aware of the financial risk related to the guarantee. He or she may not even know what a suretyship is.

But in other circumstances the guarantor may be well aware of the risk, but may nonetheless assume it because of strong emotional ties which exist between him/her and the main debtor. How, then, (if at all) does the law address the potential for 'unfairness' in such situations?

Some systems choose to rely on objective criteria, such as identification of a manifest disproportion between the guaranteed amount and the surety's income and assets, while others are more open to subjective inquiry. The key point is variation. Different jurisdictions in Europe operate different models with different priorities.

This book provides a comparative overview of the remedies against unfair obligations of non-professional guarantors available in 22 EU Member States, based on a questionnaire which has been completed by an expert in each particular jurisdiction and covering both legal rules and the economic context of different credit markets and banking practices.

European Jurisdictions, Banking and Finance
1: A. Colombi Ciacchi and S. Weatherill: Regulating Unfair Suretyships in Europe: Methodology of a Comparative Study
2: K. Heine and R. Janal: Suretyships and Consumer Protection in the European Union through the Lense of Law and Economics
3: A. Colombi Ciacchi and S. Weatherill: Remarks from a Comparative and EU Perspective
Country Reports
4: W. Faber: Austria
5: V. Sagaert: Belgium
6: M. M. Fogt: Denmark
7: L. Fox O'Mahony, J. Devenney and M. Kenny: England and Wales
8: I. Kull: Estonia
9: T. Mikkola: Finland
10: S. Vigneron, A.-S. Barthez and R. Family: France
11: P. Rott: Germany
12: Y. Erifillidis: Greece
13: T. Tajti: Hungary
14: P. O'Callaghan and Aoife O'Donoghue: Ireland
15: F. Fiorentini: Italy
16: T. Klauberg: Latvia
17: A. Smaliukas and G. Sulija: Lithuania
18: M. Haentjens: The Netherlands
19: I. Lobocka: Poland
20: J.F. Sinde Monteiro and A. Pereira: Portugal
21: F. Ciutacu: Romania
22: L.J. Smith: Scotland
23: S. Meznar: Slovenia
24: T. Rodriguez de las Heras Ballell: Spain
25: A. Persson: Sweden;