Assignment of Credit: Ruling No. 9479 of 2024 Explores the Accessories of the Right

The ruling No. 9479 of April 9, 2024, issued by the Court of Cassation, addresses a topic of significant importance in civil law: the assignment of credit and the notion of "other accessories." This decision not only confirms previous case law but also provides insights on how to consider the rights and utilities associated with the assigned credit.

The Notion of "Other Accessories" in the Assignment of Credit

According to what is established by Article 1263, paragraph 1, of the Civil Code, the credit transferred to the assignee includes not only privileges and guarantees but also "other accessories." The Court clarified that these accessories are to be understood as all utilities arising from the exercise of the assigned right. This means that every element that does not possess autonomy but is intrinsically linked to the right itself is included in the object of the assignment.

Effects of the assignment - "Other accessories" transferred - Notion - Case law. In terms of credit assignment, the provision of paragraph 1 of Article 1263 of the Civil Code, according to which the credit is transferred to the assignee, in addition to the privileges and real and personal guarantees, also includes "other accessories," should be understood to mean that the sum of the utilities that the creditor can derive from the exercise of the assigned right is included in the object of the assignment, that is, every situation directly connected with the right itself, which, being devoid of autonomous profiles, integrates its economic content or specifies its function. (In this case, the Supreme Court confirmed the contested ruling which had deemed included in the object of the assignment the right to avail oneself of the express resolutory clause contained in a transaction concluded by the assigning creditor with the debtor, as it was not an autonomous right but a utility inherent to the exercise of the credit).

Practical Implications of the Ruling

The decision of the Court of Cassation has significant implications for legal professionals and companies operating in the credit market. In particular, several key aspects can be outlined:

  • Clarity in Assignment Contracts: It is essential that credit assignment contracts clearly specify which accessories and utilities are included in the transfer.
  • Credit Valuation: When evaluating a credit for assignment, it is necessary to consider not only the nominal value but also the accessories that may influence its economic value.
  • Dispute Management: The case law confirmed by the ruling offers useful tools for resolving potential disputes related to credit assignment, making the rights and expectations of the parties involved more transparent.

Conclusions

Ruling No. 9479 of 2024 from the Court of Cassation represents an important step forward in understanding the assignment of credit and the associated rights. Clarifying the notion of "other accessories" not only helps protect the rights of the assignee but also offers greater legal certainty in the credit market. It is essential for professionals in the sector to keep their knowledge and practices updated regarding these issues to ensure effective management in compliance with current regulations.

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