The Supreme Court of Justice (STJ) considered a valid contract swapping agreement between Santander Totta and the Cardoso company & amp; Costa Buildings, a process in which it requested the annulment of the contract and compensation of 359,000 euros.
In its judgment dated 11 February, the agency Lusa had access, the judges consider that the ‘swap’ contracts are legal and are included in European law and also in Portuguese law.
The decision was taken unanimously and the judges understood that a ‘swap’ contract may under no circumstances be understood as “game or bet.”
The Cardoso Costa and construction had already appealed the decision of the lower courts, having seen the Supreme Court confirmed the decision expressed in earlier judgments.
The construction intended it was “declared the nullity of the ‘swap’ contract” signed with the bank in 2008 and Santander Totta was ordered to pay him “as compensation” almost 359,000 euros, claiming the cancellation of the contract on the grounds of error -vício.
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