<p>A liquid polyester obtainable by reacting a cyclic acid anhydride (A) comprising at least 10 mol% of one of specific alkyl or alkenyl substituted cyclic acid anhydrides with an epoxy compound (B) in a molar ratio of (A):(B) of 10:8 - 10:12, optionally in the presence of a dry or semi-dry partially saponified fat and oil having a saponification ratio of 5 to 90%. The liquid polyesters contain preferably ethylenical unsaturation and may be used in film-forming materials.</p>
