Guarantees granted by the State or charged to the Treasury in relation to debts of particular categories of subjects – Nature of first demand guarantee – Exclusion – Applicable principles – Consequences in terms of activation of these guarantees.<\/p>\n
The III Civil Section has stated, in the interest of the law and pursuant to art. 363, paragraph 3, cpc, the following principle of law: “In the case of guarantees granted by the State or placed in any case by the public tax authorities by specific provisions of the law in relation to debts of particular categories of subjects, they, in the absence of elements textual in this sense in the discipline instituting the specific providence, cannot be understood as a guarantee that can be enforced on first request and independently; therefore, in the absence of specific different express provisions, the general principles regarding the guarantee as an ancillary service, as derived from the discipline of the guarantee, are applied, so that the activation of the public guarantee must be allowed at least after a vain timely diligent activation, by of the creditor, of the ordinary credit protection instruments available to him “.<\/p>\n
Source Supreme Court of Cassation<\/p>\n","protected":false},"excerpt":{"rendered":"
Guarantees granted by the State or charged to the Treasury in relation to debts of particular categories of subjects – Nature of first demand guarantee – Exclusion – Applicable principles – Consequences in terms of activation of these guarantees. The III Civil Section has stated, in the interest of the law and pursuant to art. 363, paragraph 3, cpc, the following principle of law: “In the case of guarantees granted by the State or placed in any case by the public tax authorities by specific provisions of the law in relation to debts of particular categories of subjects, they, in…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[223],"tags":[],"yoast_head":"\n