The Supreme Court recently granted leave to appeal in a Court of Appeal case regarding the enforceability of an electronic copy of a negotiable promissory note.(1) The promissory note had been executed using an electronic signature; thus, it had not been executed as an original paper copy, but only as an electronic copy.
Chapter 2(2) of the Enforcement Execution Code states that the plaintiff, on request for enforcement by the Swedish Enforcement Authority, must present the enforcement title on which the claim is based.(2) In respect of a negotiable promissory note, the enforcement title must be presented as an original paper copy to verify its authenticity.
As the basis for granting leave to appeal, the Supreme Court declared that the rules are unclear, and that there is a lack of case law regarding the enforceability of an electronic copy of a negotiable promissory note.
There is a lacuna in the law because although a negotiable promissory note can be executed using an electronic signature, it cannot be enforced without presenting the original paper copy of the promissory note. The decision will therefore be important and is keenly anticipated.
For further information on this topic please contact Kine Karlstedt at Advokatfirman Törngren Magnell KB by telephone (+46 8 400 283 00) or email (email@example.com). Törngren Magnell's website can be accessed at www.torngrenmagnell.com.
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