KKO 2873/2005
AI generated
Supreme Court dismissed appeal on loan guarantee contract interpretation, ruling against guarantor's defense of lack of knowledge regarding principal's insolvency.
Legislator summary
AI generatedThe Supreme Court of Finland dismissed the guarantor's appeal against the lower court's judgment regarding a loan guarantee contract. The guarantor argued they were unaware of the principal debtor's insolvency at the time of signing, while the court found no evidence supporting this claim. Consequently, the court held that the guarantor was bound by the contract terms as they stood at the time of execution.
Legislator headnote
AI generatedLoan Guarantee Act 1993, s. 1; Guarantee Law 1993, s. 1: A guarantor is bound by the contract terms unless they can prove they were unaware of the principal debtor's insolvency at the time of signing.
Keywords
AI generated
loan guarantee contract
guarantor liability
insolvency unawareness
contract interpretation
Supreme Court of Finland
Cited Legislation
AI generatedLoan Guarantee Act 1993, s. 1
Guarantee Law 1993, s. 1
Full text
Kysymys luottoriskitakuusopimuksen tulkinnasta.