News
A framework contract on investment services is binding even if signed by the investor only
- 22/01/2018
With Sentence no. 898 of 16th January 2018, the Court of Cassation in plenary session has observed that the requirement of the written form prescribed by article 23 of Legislative Decree no. 58/1998, refers to framework contracts related to investment services and not to any single investment or disinvestment service.
The Court has then stated that the said requirement is certainly satisfied when the framework contract is written and signed by the investor, to whom a copy of the contract has to be given.
In order for a framework contract to be valid, it is not necessary that it is signed by the financial intermediary, whose consent can be inferred perfacta concludentia.
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