a lawyer from Majorcaemerged recently Since he didn’t work at the Balearic Islands Law School, He managed to win the legal battle he entered. before the multinational American ExpressRegarded as one of the hundred most powerful companies on the planet due to the number of customers and turnover. This is a conflict this lawyer has had with the financial company over his client status, as he has been using credit cards to handle his financial transactions for almost two decades. Because of her consumer status, she went to court to report abuses.in terms of default interest and expenses incurred by the multinational company, It is reflected in the terms of the contract with the articles that it understands to be malicious.
This conflict between this client from Mallorca and the multinationals in North Americaand resolved by a recent decision It was dictated by the Palma Court. The judges agree with this self-defense attorney and confirm that the wording of the signed contract is correct. it was very confusing with the client, especially when they specify the economic terms of the interest item.
The judges have read the text of this agreement in detail and since they themselves cannot interpret the scope of the articles, they are of the opinion that it is a document that has not passed the transparency control required by law. Need to be considered and highlighted in this sentence, this contract information It is aimed at the average consumer.often unfamiliar with financial regulations. “The article on interests is not clear, simple or specific when stating interests”, points to the court.
However, American Express abuses its credit cards by charging interest, as well as charging commissions and transaction charges. American multinational corporation, commissions and expenses part of the contract price. The Trial judges, however, take a very different interpretation. They think that these conditions imposed by the financial company create an imbalance in the eyes of the consumer. Also, if there was a fair position between both parties through individual negotiation, these unfair terms would be would not be accepted by the customer. Due to the abuse of this contract clause, the court declares it illegal and cancels it. This means that this attorney with the island won’t have to pay the interest, commissions, or expenses American Express is willing to charge. Only must pay the capital owed to the multinational company. The resolution does not specify the percentage of interest charged by this foreign company. However, it is increasingly common for judges to denounce the abuse used by many financial companies to charge default interest on credit card use.