Wednesday, 28 October 2015

Reduction of the statute of limitations for Spanish actions

Up till now Spanish plaintiffs benefitted from a more than generous fifteen year general statute of limitations for most actions in personam. In a major reform of the Spanish Civil Procedure Act and the Civil Code which entered into force last Wednesday, October 7, this has now been reduced to five years.
    
This affects many of the most common contract based actions such as breach, non-payment, supply of defective goods, rent review and all claims relating to a contract of sale. The new legislation seeks to strike a better balance between the creditor’s interest in preserving his claim and the need to ensure that there is a reasonable time-limit. Fifteen years was held by most operators to be excessive.  The system has now been brought into line with that of other European countries which have a five year limit.     

With a previous time limit of fifteen years, transitional provisions are obviously of great importance. As one might expect, the new limit will only apply to obligations arising after the entry into force of the reform. Those arising prior to 7 October 2000 are already statute-barred due to the expiry of the old fifteen year limit. Those arising between that date and 7 October 2005 remain subject to the old limit. Those arising after that date and before 7 October 2015 will be statute-barred on 7 October 2020, i.e. they will be given the benefit of five years from the date of entry. Thus an obligation arising on 7 October 2010 will now be barred in 2020 and not in 2025, a full five years earlier.

In view of the above, clients are advised to urgently review any outstanding claims arising after 7 October 2000We remain at your disposal should you require any further information with respect to the above. 

Author: Alba Mª López

Visit our website: http://www.elzaburu.es/en

13 comments:

  1. I got too much interesting stuff on your blog. I guess I am not the only one having all the enjoyment here! Keep up the good work.
    섯다

    ReplyDelete
  2. Really impressed! Everything is very open and very clear clarification of issues. It contains truly facts. Your website is very valuable. Thanks for sharing.
    스포츠토토

    ReplyDelete
  3. A very awesome blog post. We are really grateful for your blog post. combat, law enforcement You will find a lot of approaches after visiting your post. I was exactly searching for. Thanks for such post and please keep it up. Great work.
    일본야동

    ReplyDelete
  4. Can I simply say what relief to get somebody that in fact knows what they're dealing with on-line. You actually know how to bring a concern to light to make it essential. Workout . should ought to see this and can see this side of your story. I cant think you're less well-known simply because you definitely hold the gift.
    토토사이트

    ReplyDelete
  5. Thank you very much for taking your time to create this very useful and informative post.
    온라인카지노

    ReplyDelete
  6. That was really a great article. Thanks for sharing information. Continue doing such a great work.
    카지노사이트

    ReplyDelete
  7. without limit Spend all day enjoying anytime, anywhere. Let's go try it out. betflix

    ReplyDelete
  8. This was super intresting to read. Thanks for sharing it. You made a long-term fan and I’ll be back to see more. Thank you for sharing.
    온라인카지노
    바카라사이트
    카지노사이트
    온라인카지노

    ReplyDelete
  9. Hard to ignore such an amazing article like this. You really amazed me with your writing talent. Thank you for sharing again.
    온라인카지노

    ReplyDelete
  10. Stay up the good work! You know, many people are looking round for this info, you could aid them greatly.
    먹튀검증

    ReplyDelete

  11. Thank you for your kindness by providing valuable information to us. It really helped me to enhance my knowledge and skills.
    토토사이트

    ReplyDelete