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KKO 903/1995 AI generated

Supreme Court held that a guarantee debt matures immediately upon the bank's written demand for payment.

Case Number KKO 903/1995
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court ruled that a guarantee debt under the Guarantee Act 4 § matures immediately upon the bank's written demand for payment. The bank had notified the guarantor in writing on July 8, 1991, that the debt had matured due to unpaid interest and principal, demanding payment by July 23, 1991. The court determined that such a written notice satisfies the statutory requirement for the debt to be considered due, regardless of the original contract's specific maturity date.

Legislator headnote

AI generated

Takauslaki 4 §; A guarantee debt under the Guarantee Act 4 § is deemed to have matured immediately upon the creditor's written demand for payment, provided the demand specifies the amount and deadline.

Keywords

AI generated
Guarantee Act maturity of debt written demand banker's lien guarantor liability payment deadline statutory notice

Cited Legislation

AI generated
Takauslaki 4 §
AI generated
kko-other_2001_2543
Supreme Court dismisses claim for debtor to pay state legal aid costs in debt restructuring case.
kko-precedent_1995_144
Supreme Court allows bank claim against borrower for debt arising from a fraudulent loan scheme. The court held that the bank's knowledge of the fraud made the claim not contrary to good faith.
kko-precedent_1996_121
Supreme Court allows bank to terminate debt against guarantors despite debtor's debt arrangement blocking termination against debtor.
kko-precedent_1991_58
Guarantor bound to pay only what guarantor was legally obligated, not payments made to third parties.
kko-precedent_1991_151
Guarantor liable for new loan guarantees not explicitly covered by original guarantee contract terms.

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Full text

Pankki oli velalliselle ja omavelkaiseen takaukseen sitoutuneelle takaajalle osoittamissaan 8.7.1991 päivätyissä kirjeissä katsonut, että velan korkojen ja lyhennysten suorittamatta jättämisen johdosta velka oli velkakirjan ehtojen mukaisesti erääntynyt heti maksettavaksi. Takaajaa pyydettiin suorittamaan velan maksamatta oleva pääoma korkoineen viipymättä viimeistään eräpäivään 23.7.1991 mennessä.

Kysymys siitä, milloin velan oli katsottava TakausA 4 §:n kannalta erääntyneen.

TakausA 4 §