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Part II EU Jurisdictions, 6 Spain

Francisco de Elizalde, Sara Sánchez

From: Unfair Terms in Banking and Financial Contracts

Edited By: Danny Busch, Matthias Lehmann

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 23 July 2024

Banker-customer contract — Credit — Capital markets — Financial regulation

This chapter discusses Spain’s unfair contract terms in financial and banking contracts. It notes the serious impact on Spain of the 2007–08 Global Financial Crisis before discussing how Spanish law has established a regime of control of standard terms in consumer contracts, which differs from the more generally applicable rules of the Spanish Civil Code (SCC). Even though Spanish law controls the incorporation of terms in standard form contracts for both business-to-business (B2B) and business-to-consumer (B2C) contracts, the unfairness assessment is restricted to B2C contracts. The chapter explores the implementation of the Unfair Terms Directive (UTD) under Spanish law.

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