The High Court Judgement dated 7th May 2012 confirms the High Court Judgement of 9th June 2010. According to said judgements, when a promissory note is issued without the text indicating the office, position or representation of the signatory of a document inserted before the signature (antefirma), the signatory undertakes a personal obligation unless the appropriate power of attorney or representation is mentioned, or at least the stamp of the represented company figures, given that it is impossible to deduce from the text of the promissory note that the signatory is acting as a representative of a company or entity even if such condition exists, when said condition may be applied to one or various companies or representations.
This doctrine states clearly the doctrine of another High Court Judgement of 5th April 2012, which established that in case of omission (of the antefirma), the signatory is not personally obliged, unless said power of attorney or representation is non-existent. However, it is now specified, that this doctrine is not applicable to cases in which it is impossible to deduce from the actual promissory note that the signatory is acting as a representative of a company, given that he is representative of not just one company, but various, and may be personally responsible.
As a result, in such cases the signatory is personally responsible when the representation is omitted.
For more information, please contact:
Ismael PERALTA: ipv@vila.es
2012/10/08
