Spanish Commercial Code - Book II - Contracts and Obligations in General - Title XII - Of Credit Card Orders
SPANISH COMMERCIAL CODE Title XII FOR CREDIT CARD ORDERS Article 782. Credit Cards orders are intended to make a conditional exchange contract concluded between the giver and the taker, whose perfection depends on it makes use of the credit that he opens. Article 783. Letters of credit must be given to specific individuals, not to order. Issued in the latter form, the policyholder can collect them personally, but not endorse it. The endorsement of a letter of credit does not transfer to the endorsee the right to collect it. Article 784. The letter of credit shall designate the time within which the policyholder must make use of it and the maximum of the amount to be withheld from them. If the letter of credit does not represent any time, be appointed by the court of commerce relevant in the circumstances of the giver and taker and commercial nature of the operation that was aimed at opening the credit. Article 785. The maker of a letter of cred...