Type: Judgment

Authority: European Authorities: Euopean Union' Court of Justice

Date: 07/06/2023

Subject: According to the Court, in order to fall within the exclusion from the scope of Directive 93/13/EEC it is not necessary for the term included in a loan agreement concluded between a consumer and a seller or supplier to quote the corresponding mandatory statutory or regulatory provision of national law verbatim or to refer expressly thereto, but it is sufficient that it is substantively equivalent to that mandatory provision, that is to say that it has the same normative content. The Court affirmed that in order to determine whether a term included in a loan agreement concluded between a consumer and a seller or supplier falls within the exclusion from the scope of that directive, it is irrelevant that the consumer has no knowledge of the fact that that term reflects a mandatory statutory or regulatory provision of national law

Parties: First Bank

Classification: Solidarity - Art. 38 Consumer protection

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