Banco Español de Crédito SA v Camino
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''Banco Español de Crédito SA v Camino'' (2012) is a
European Court of Justice The European Court of Justice (ECJ), officially the Court of Justice (), is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting ...
(ECJ)
case Case or CASE may refer to: Instances * Instantiation (disambiguation), a realization of a concept, theme, or design * Special case, an instance that differs in a certain way from others of the type Containers * Case (goods), a package of relate ...
relevant to
contract law A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more Party (law), parties. A contract typically involves consent to transfer of goods, Service (economics), services, money, or pr ...
, concerning the scope of
consumer protection Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent business ...
under the Unfair Terms Directive under
EU law European Union law is a system of Supranational union, supranational Law, laws operating within the 27 member states of the European Union (EU). It has grown over time since the 1952 founding of the European Coal and Steel Community, to promote ...
.


Facts

Calderon Camino borrowed €30,000 from Banesto to buy a car at 7.95% interest, and APR 8.89%, and 29% on late payments. Banesto claimed €29,381.95 for unpaid monthly repayments, interest and costs. The court of first instance handling the case held the 29% rate to be automatically unfair, given that it was 20% above the nominal, fixing the rate instead at 19%. Banesto complained that the consumer had not asked for this, and said national law prevented a court assessing a term for unfairness on its own motion. The Barcelona Provincial Court referred the question to the ECJ.


Judgment

The European Court of Justice's First Chamber held that the court had the right and the duty to assess the fairness of a clause. However, it could not substitute an interest rate: it had to find the interest rate
void Void may refer to: Science, engineering, and technology * Void (astronomy), the spaces between galaxy filaments that contain no galaxies * Void (composites), a pore that remains unoccupied in a composite material * Void, synonym for vacuum, a s ...
, while leaving the rest of the contract intact.


See also

*
English contract law English contract law is the body of law that regulates legally binding agreements in England and Wales. With its roots in the lex mercatoria and the activism of the judiciary during the Industrial Revolution, it shares a heritage with countries ...
*
EU law European Union law is a system of Supranational union, supranational Law, laws operating within the 27 member states of the European Union (EU). It has grown over time since the 1952 founding of the European Coal and Steel Community, to promote ...


References

{{DEFAULTSORT:Banco Espanol de Credito SA v Camino Contract case law Spanish case law Court of Justice of the European Union case law 2012 in the European Union 2012 in case law