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Part I General Part, 2 The Unfair Terms Directive and Its Application to Banking and Financial Contracts

Danny Busch, Matthias Lehmann

From: Unfair Terms in Banking and Financial Contracts

Edited By: Danny Busch, Matthias Lehmann

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Banker-customer contract — Securities — Financial regulation

This chapter presents the Unfair Terms Directive (UTD), which is the key text of the European Union (EU)’s unfair terms control. The chapter discusses all provisions of the UTD relevant to banking and financial context, article by article. It also provides an overview over the extensive and complex case law of the Court of Justice of the EU (CJEU) in the area. The chapter starts by analysing the purpose and scope of the Directive as well as its relation to the national laws of the Member States. It goes on to discuss the exclusion of core terms from unfair terms control, the transparency requirement, and the unfairness test. It also addresses the legal consequences of unfair terms and procedural remedies, which result from a complex interplay between EU and national law.

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