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

Aurelia Colombi Ciacchi and Stephen Weatherill

Abstract

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 potent ... More

Keywords: financial risk, suretyship, income, assets, unfair obligations, legal rules, banking practices

Bibliographic Information

Print publication date: 2010 Print ISBN-13: 9780199594559
Published to Oxford Scholarship Online: January 2011 DOI:10.1093/acprof:oso/9780199594559.001.0001

Authors

Affiliations are at time of print publication.

Aurelia Colombi Ciacchi, editor
Senior Researcher, Law Faculty; Senior Lecturer, Hanse Law School, University of Bremen

Stephen Weatherill, editor
Professor of European Law, Law Faculty & Somerville College, Oxford University

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