Objections available to the guarantor of a bill of exchange

Bibliogr. s. 170-172

In this article author discusses types of objections which the guarantor of a bill of exchange may raise during the court process. This problem is not directly regulated by the Polish Act on Bills of Exchange. It is commonly accepted that a guarantor may raise only objections resulting from his own relationships towards the owner of the bill of exchange and not those following from the relationships of the debtor towards the holder of the bill. Even if the giver of aval stipulates the lodging of such objections in a contract with the creditor under the bill, such an agreement only binds the respective creditor and in principle does not affect another assignee of the bill, with the exception of unfair acquisition. In a specific case, the distinction between the types of objections may rise doubts. The division is not always clear and easy to grasp. In the article the author considers, in particular, the admissibility of raising objections relating to the defects in the avalist's declaration of will, the permissible objections of the giver of aval on the blank bill of exchange and the issues arising from the intersection between bill of exchange law and European consumer law. In connection with the above, the article makes an attempt to create a systematics of the guarantor's objections.