Title 3. Loan contract; financing assistance and contracts for delivery by instalments between an entrepreneur and a consumer (Section 488 – 515)

Last Updated on June 27, 2021 by LawEuro

German Civil Code (BGB) German law

Title 3
Loan contract; financing assistance and contracts for delivery by instalments between an entrepreneur and a consumer*)

*) Official note: This title serves to implement Directive 87/102/EEC of the Council for approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (OJ L 42, p. 48) most recently amended by Directive 98/7/EC of the European Parliament and of the Council of 16 February 1998 to amend Directive 87/102/EEC for approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (OJ L 101, p. 17).

Subtitle 1
Loan contract

Chapter 1
General provisions

Section 488
Typical contractual duties in a loan contract

(1) The loan contract obliges the lender to make available to the borrower a sum of money in the agreed amount. The borrower is obliged to pay interest owed and, at the due date, to repay the loan made available.

(2) The agreed interest, unless otherwise provided, is to be paid at the end of each year and, if the loan is to be repaid before the end of one year, upon repayment.

(3) If a time is not specified for repayment of the loan, its due date is subject to the lender or the borrower giving notice of termination. The notice period is three months. If interest is not owed, the borrower is also entitled to repay without giving notice of termination.

Section 489
Right of the borrower to give notice of termination

(1) The borrower may terminate a loan contract with a pegged lending rate, in whole or in part

1. if the pegging of the lending rate ends prior to the time determined for repayment and no new agreement is reached on the lending rate, observing a notice period of one month to end at the earliest at the end of the day on which the pegging of the lending rate ends; if an adjustment of the lending rate is agreed at certain intervals of up to one year, the borrower may only give notice to end at the end of the day on which the pegging of the lending rate ends;

2. in any case at the end of ten years after complete receipt, observing a notice period of six months; if, after the loan is received, a new agreement is reached on the repayment period or the lending rate, the date of this agreement replaces the date of receipt.

(2) The borrower may terminate a loan contract with a variable rate of interest at any time, giving three months’ notice of termination.

(3) Termination by the borrower is deemed not to have been given if the borrower does not repay the sum owed within two weeks after the notice of termination takes effect.

(4) The right of termination of the borrower under subsections (1) and (2) above may not be excluded or made more difficult by contract. This does not apply to loans to the Federal Government, to a special fund of the Federal Government, a Land, a municipality, an association of municipalities, the European Communities or foreign regional or local authorities.

(5) The lending rate is the pegged or changeable periodic percentage that is applied per year to the loan that has been taken up. The lending rate is pegged if a lending rate or several lending rates are agreed for the entire term of the contract which are expressed as a fixed percentage. If no lending rate is agreed for the entire term of the contract, the lending rate is deemed to be pegged only for those periods for which it is determined by a fixed percentage.

Section 490
Right to terminate for cause

(1) If there is or threatens to be a substantial deterioration in the financial circumstances of the borrower or in the value of a security given for the loan as a result of which the repayment of the loan is jeopardised even if the security is realised, the lender may give notice of termination of the loan agreement with immediate effect; in case of doubt, extraordinary notice of termination is available before the loan is paid out, under all circumstances, but, after the loan has been paid out, only as a general rule.

(2) The borrower may give early notice of termination of a loan contract where the lending rate is pegged and the loan is secured by a security right in land or a maritime lien, complying with the notice periods in section 488 (3) sentence 2, if his justified interests require this and six months have expired since the complete receipt of the loan. There is such an interest in particular, without limitation, if the borrower has the need to otherwise realise the thing pledged to secure the loan. The borrower must compensate the lender for the damage incurred by the lender as a result of this early termination (compensation for early repayment of the loan).

(3) The provisions of sections 313 and 314 are unaffected.

Chapter 2
Special provisions for consumer credit agreements

Section 491
Consumer credit agreement

(1) The provisions of this chapter apply to nongratuitous loan contracts between an entrepreneur as lender and a consumer as borrower (consumer credit agreement), unless otherwise provided in subsections (2) or (3) or in sections 503 to 505.

(2) The following contracts are not consumer credit agreements

1. in which the net loan amount (Article 247 section 3 (2) of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche]) is less than 200 euros,

2. where the liability of the borrower is restricted to a thing surrendered to the lender as a pledge,

3. where the borrower must repay the loan within three months and only low costs are agreed,

4. which employers conclude with their employees as an additional benefit to the employment contract at a lower effective annual interest rate than the going market rate (section 6 of the Ordinance on Price Information [Preisangabenverordnung]) and which are not offered to other persons,

5. which are only concluded with a limited group of individuals on the basis of legal provisions in the public interest if conditions are agreed in the contract for the borrower which are more favourable to the borrower than the going market rates and a maximum of the going lending rate on the market is agreed.

(3) Section 358 subsections (2) and (4), as well as sections 491a to 495, do not apply to loan contracts incorporated in a court record drawn up in compliance with the provisions of the Code of Civil Procedure [Zivilprozessordnung] or determined by a court order on the establishment and the content of a settlement concluded between the parties if the record or order on the lending rate contains the lending rate, the costs of the loan invoiced when the contract was entered into, and the conditions under which the lending rate or the costs may be adjusted.

Section 491a
Preliminary contract information obligations with consumer credit agreements

(1) The lender must inform the borrower with a consumer credit agreement of the details emerging from Article 247 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche] in the form provided for therein.

(2) The borrower may require from the lender a draft of the consumer credit agreement. This does not apply insofar as the lender is not willing to conclude the contract.

(3) The lender is obliged to provide suitable explanations to the borrower prior to conclusion of a consumer credit agreement so that the borrower is enabled to judge whether the contract does justice to the purpose pursued by him and his assets. To this end, where appropriate the preliminary contract information under subsection (1), the main characteristics of the contracts offered by the lender, as well as their typical contractual effect on the borrower, including the consequences of payment default, shall be explained.

Section 492
Written form, contents of the contract

(1) Consumer credit agreements are to be entered into in writing unless a more stringent form is provided for. The requirement of written form is satisfied if the offer and acceptance by the parties to the contract are declared in writing in separate documents. The statement of the lender need not be signed if it is made with the help of automatic equipment.

(2) The contract must contain the information for the consumer credit agreement prescribed under Article 247 sections 6 to 13 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche].

(3) After the contract has been entered into, the lender must provide to the borrower a copy of the contract. If a time has been determined for the repayment of the loan, the borrower may demand from the lender at any time a repayment plan under Article 247 section 14 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche].

(4) Subsections (1) and (2) also apply to a power of attorney granted by a borrower to enable the attorney to enter into a consumer credit agreement. Sentence 1 does not apply to a power of attorney for legal proceedings and a power of attorney notarially recorded.

(5) Declarations on the part of the lender to be submitted to the borrower after the contract has been entered into must be made on a durable medium.

(6) If the contract does not contain the information under subsection (2), or not all of it, it may be provided subsequently on a durable medium after the contract has been effectively entered into, or in cases under section 494 (2) sentence 1, after the contract has become valid. If the lack of information under subsection (2) has led to amendments in the contractual conditions under section 494 (2) sentence 2 to subsection (6), the information may only be subsequently provided by the borrower receiving the copy of the contract necessary under section 494 (7). In the other cases, at the latest at the time of subsequently providing the information, the borrower must receive one of the documents designated in section 356b (1). When subsequently providing the information under subsection (2), the borrower must be informed on a durable medium that the withdrawal period of one month commences after receipt of the subsequently-provided information.

Section 493
Information during the contractual relationship

(1) If the lending rate in a consumer credit agreement is pegged, and if the pegging of the lending rate ends prior to the time determined for repayment, the lender shall inform the borrower at the latest three months prior to the end of the pegging of the lending rate whether he is willing to reach a new agreement as regards the lending rate. If the lender declares his willingness thereto, notification must contain the lending rate offered by the lender at the time of notification.

(2) The lender must notify the borrower at the latest three months prior to termination of a consumer credit agreement whether he is willing to continue the loan relationship. If the lender declares that he is willing to continue, notification must contain the obligatory information from section 491a (1) applicable at the time of notification.

(3) The adjustment of the lending rate of a consumer credit agreement with a changeable lending rate is not effective until the lender has informed the borrower of the details revealed from Article 247 section 15 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche]. Derogating agreements on effectiveness are permissible in the framework of Article 247 section 15 (2) of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche].

(4) If claims were assigned from the loan contract, the obligations from subsections (1) to (3) also affect the new lender unless the previous creditor has agreed with the new creditor that only the previous lender is identified in the relationship with the borrower.

Section 494
Legal consequences of defects of form

(1) The consumer credit agreement and the power of attorney given by the consumer to enter into such a contract are void if written form is not complied with at all or if any of the items of information specified in Article 247 sections 6 and 9 to 13 of the Introductory Act to the Civil Code for the consumer credit agreement is lacking.

(2) Irrespective of a defect under subsection (1), the consumer credit agreement is valid to the extent that the borrower receives the loan or draws on it. However, the lending rate on which the consumer credit agreement is based is reduced to the statutory rate of interest if there is no information on the lending rate, on the effective annual rate of interest or on the total amount.

(3) If the effective rate of interest is stated at a rate that is too low, the lending rate on which the consumer credit agreement is based is reduced by the percentage by which the effective rate of interest is too low.

(4) Costs not stated are not owed by the borrower. If the contract does not state under what preconditions costs or interest can be adjusted, the possibility to adjust these to the disadvantage of the borrower ceases to apply.

(5) If instalments have been agreed, their amount is to be re-calculated by the lender, taking account of the reduced interest or costs.

(6) If the contract does not contain information on the term or on the right of termination, the borrower is entitled to terminate at any time. If information on securities is missing, they cannot be demanded. Sentence 2 does not apply if the net loan amount is more than 75,000 euros.

(7) The lender must provide to the borrower a copy of the contract in which the contractual amendments are considered as revealed by subsections (2) to (6).

Section 495
Right of withdrawal

(1) In the case of a consumer credit agreement, the borrower has a right of withdrawal under section 355.

(2) There is no right of withdrawal in the case of credit agreements

1. replacing or supplementing by means of repayment agreements a loan agreement which the lender is entitled to terminate because of payment default on the part of the borrower, if thereby court proceedings are avoided and if the total amount (Article 247 section 3 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche]) is smaller than the residual debt of the original contract,

2. which are to be notarially recorded if the notary confirms that the rights of the borrower are granted from sections 491a and 492, or

3. which correspond to section 504 (2) or to section 505.

Section 496
Waiver of objections, prohibition of bills of exchange and cheques

(1) An agreement by which the borrower waives his right under section 404 to make against an assignee of the obligation objections to which he is entitled against the lender, or his right under section 406 to set off against an assignee of the obligation too a claim he has against the lender, is ineffective.

(2) If a claim of the lender from a loan contract is assigned to a third party, or if the identity of the lender is changed, the borrower must be notified of this without delay, as well as of the contact data of the new creditor in accordance with Article 246b section 1 (1) nos. 1, 3, and 4 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche]. Notification shall be dispensable with assignments if the previous lender has agreed with the new creditor that only the previous lender is identified in the relationship with the borrower. If the preconditions of sentence 2 continue, notification must be subsequently carried out.

(3) The borrower may not be obliged to incur a bill of exchange commitment for the claims of the lender under the consumer credit agreement. The lender may not accept a cheque from the borrower to secure his claims under the consumer credit agreement. The borrower may require the lender at any time to return a bill of exchange or cheque that has been issued in violation of sentence 1 or 2 above. The lender is liable for all damage incurred by the borrower as a result of the issue of such a bill of exchange or cheque.

Section 497
Default of the borrower

(1) To the extent that the borrower is in default in making payments owed on the basis of the consumer credit agreement he must pay interest under section 288 (1) on the amount owed. In an individual case, the lender may prove that the damage was greater or the borrower may prove that the damage was less.

(2) Interest incurred after default has occurred must be booked to a separate account and may not be paid into a current account together with the amount owed or other claims of the lender. In regard to such interest, section 289 sentence 2 applies, with the proviso that the lender may only demand damages up to the amount of the statutory rate of interest (section 246).

(3) Payments by the borrower which are insufficient to repay the entire debt due are credited, notwithstanding section 367 (1), first, towards costs of litigation, then towards the remainder of the amount owed (subsection (1)) and finally towards interest (subsection (2)). The lender may not reject instalments. Limitation of the claims for repayment of the loan and interest is suspended from the date when default begins under subsection (1) until they are determined in a manner described in section 197 (1) nos. 3 to 5, but not for more than ten years from the date when they come into existence. Section 197 (2) does not apply to claims for interest. Sentences 1 to 4 do not apply to the extent that payments are made in response to judicially enforceable instruments whose main claim is for interest.

(4) (repealed).

Section 498
Calling in entire loan in the case of loans repayable in instalments

With regard to a loan that is to be repaid in instalments, the lender may only give notice of termination on account of the default in payment of the borrower if

1. the borrower is in default in the payment of at least two consecutive instalments in whole or in part and by at least ten per cent, in the case of a consumer credit agreement running for more than three years by at least five per cent, of the nominal amount of the loan, and

2. the lender has without result given the borrower a period of two weeks for payment of the amount in arrears and has declared that in the case of failure to pay within the period, the lender will demand the entire residual debt.

At the latest when the lender specifies a period of time, the lender is to offer to the borrower to discuss the possibility of an arrangement by mutual consent.

Section 499
Right of the lender to terminate; right to refuse performance

(1) In a consumer credit agreement, an agreement on a right of termination by the lender is ineffective if a specific contract term was agreed or the termination period is less than two months.

(2) The lender is entitled with such an agreement to refuse to disburse a loan, for an objective reason, where no time is determined for repayment. If the lender intends to exercise this right, he must notify the borrower of this promptly and inform him of the reasons, where possible prior to, but at the latest promptly after the exercise of the right. Information with regard to the reasons is not provided insofar as public security or order would be placed at risk thereby.

Section 500
Termination right of the borrower; early repayment

(1) The borrower may terminate a consumer credit agreement where no time for repayment has been determined completely or in part without adhering to a notice period. An agreement on a notice period of more than one month is ineffective.

(2) The borrower may meet his obligations from a consumer credit agreement at any time early completely or in part.

Section 501
Cost reduction

Insofar as the borrower meets his obligations early, or the residual debt becomes due prior to the agreed period by notice being given, the overall costs (section 6 (3) of the Ordinance on Price Information [Preisangabenverordnung]) are reduced by the interest and other charges dependent on the duration of the loan which, if graduated calculation is used, apply to the period after the due date or performance.

Section 502
Compensation for early repayment of a loan

(1) The lender may in the case of early repayment require suitable compensation for early termination for the damage directly related to early repayment if the borrower at the time of repayment owes interest at a pegged lending rate agreed on conclusion of the contract. The compensation for early repayment of the loan may not exceed the following amounts in each case:

1. 1 percent or, if the period between the early and the agreed repayment is not more than one year, 0.5 percent of the amount repaid early,

2. the amount of the interest which the borrower would have paid in the period between early and agreed repayment.

(2) The right to compensation for early repayment of the loan is ruled out if

1. the repayment is effected from funds from an insurance policy concluded on the basis of a corresponding obligation in the loan contract in order to ensure repayment, or

2. the information contained in the contract on the term of the contract, the right of termination of the borrower or the calculation of the compensation for early repayment of the loan is inadequate.

Section 503
Real estate loan contracts

(1) Section 497 (2) and (3) sentences 1, 2, 4 and 5, as well as sections 499, 500 and 502, are not applicable to contracts where the provision of the loan is made dependent upon security being provided by a security right in land and occurs on terms customary with regard to loan contracts secured by security rights in land and their interim financing; a waiver of a security under section 7 (3) to (5) of the Act on Building Societies [Gesetz über Bausparkassen] is equivalent to security by means of a security right in land.

(2) Notwithstanding section 497 (1), the default rate of interest for the year is 2.5 percentage points above the basic rate of interest.

(3) Section 498 sentence 1 no. 1 applies on proviso that the borrower must be completely or partly in default in respect of at least two consecutive instalments and of at least 2.5 percent of the nominal amount of the loan.

Section 504
Granted overdraft

(1) If a consumer loan is granted such that the lender grants, in a contractual relationship concerning a current account, to the borrower the right to overdraw his account up to a specific amount (overdraft), the lender must provide to the borrower at regular intervals the information set out in Article 247 section 16 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche]. A right to compensation for early repayment of the loan under section 502 is ruled out. Section 493 (3) is only applied in case of an increase in the lending rate and applies with the necessary modifications to an increase in the other costs that have been agreed. Section 499 (1) does not apply.

(2) If it is agreed in an overdraft that after disbursement the term is at most three months or the lender can terminate without complying with a notice period, sections 491a (3), sections 495, 499 (2) and section 500 (1) sentence 2 do not apply. Section 492 (1) does not apply if apart from the interest no further ongoing costs are agreed, the interest is not due at intervals of less than three months and the lender informs the borrower of the content of the contract on a durable medium at the latest promptly after conclusion of the contract.

Section 505
Tolerated overdraft

(1) If an entrepreneur agrees in a contract with a consumer on a current account for which no overdraft facility has been granted that a fee shall be payable in the event of his tolerating the overdrawing of the account, this contract must contain the information under Article 247 section 17 (1) of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche] in text form, and such information must be notified to the consumer at regular intervals on a durable medium. Sentence 1 applies with the necessary modifications if a lender agrees with a borrower in a contract on a current account for which an overdraft facility has been granted that a fee shall be payable in the event of his tolerating the overdrawing of the account beyond the amount agreed by contract.

(2) If in a case under subsection (1) there is a considerable overdraft for a period of more than one month, the lender must inform the borrower promptly on a durable medium of the details emerging from Article 247 section 17 (2) of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche].

(3) If the entrepreneur acts in breach of subsection (1) or subsection (2), the lender may not demand costs and interest beyond the repayment of the loan.

(4) Sections 491a to 496 and 499 to 502 do not apply to consumer credit agreements established subject to the prerequisites named in subsection (1).

Subtitle 2
Financing assistance between an entrepreneur and a consumer

Section 506
Postponement of payment, other financing assistance

(1) The provisions of sections 358 to 360, and 491a to 502 apply with the necessary modifications with the exception of section 492 (4) and on proviso of subsections (3) and (4) to contracts by which an entrepreneur grants a consumer a nongratuitous postponement of payment or grants him other nongratuitous financing assistance.

(2) Contracts between an entrepreneur and a consumer on the nongratuitous use of an object are deemed to constitute nongratuitous financing assistance if it is agreed that

1. the consumer is obliged to acquire the object,

2. the entrepreneur may demand that the consumer acquire the object, or

3. the consumer must pay for a specific value of the object on termination of the contract.

Section 500 (2) and section 502 do not apply to contracts under sentence 1 no. 3.

(3) For contracts for the supply of a specified thing or the provision of a specified other service in return for instalment payments (instalment payment transactions), subject to subsection (4), the special provisions contained in sections 507 and 508 apply additionally.

(4) To the extent laid down in section 491 (2) and (3), the provisions of this subtitle do not apply. Insofar as in accordance with the type of contract there is no net loan amount (section 491 (2) no. 1), it is replaced by the cash payment price or, if the entrepreneur has acquired the article for the consumer, by the purchase price.

Section 507
Instalment payment transactions

(1) Section 494 (1) to (3) and (6) sentence 3 does not apply to instalment payment transactions. If the consumer submits his offer to conclude a contract in distance selling on the basis of a sales prospectus or of a comparable electronic medium, revealing the cash payment price, the lending rate, the effective annual interest rate, a redemption plan based on example total amounts, as well as the securities to be provided and insurance, section 492 (1) is also not applicable if the entrepreneur informs the consumer of the content of the contract on a durable medium at the latest promptly after conclusion of the contract.

(2) The instalment payment transaction is void if the requirement of written form in section 492 (1) is not observed or if in the contract one of the items of information required by Article 247 sections 6, 12 and 13 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche] is omitted. Notwithstanding a defect under sentence 1, the instalment payment transaction becomes valid if the thing is delivered to the consumer or the service performed for him. However, the maximum rate of interest on the cash payment price is the statutory rate of interest if the information on the total amount or the effective annual rate of interest is missing. If a cash payment price is not stated, then in case of doubt the market price is deemed to be the cash payment price. If information on the effective annual rate of interest states a rate that is too low, the total amount is reduced by the percentage by which the effective annual rate of interest is too low.

(3) Notwithstanding sections 491a and 492 (2) of the present Code, and notwithstanding Article 247 sections 3, 6 and 12 of the Introductory Act to the Civil Code [Einführungsgesetz zum Bürgerlichen Gesetzbuche], in the preliminary contract information and in the contract the cash payment price and the effective annual interest rate do not need to be stated if the entrepreneur only delivers things or provides services in return for instalments. In cases covered by section 501, the calculation of the cost reduction is to be based on the statutory interest rate (section 246). A right to compensation for early repayment of the loan is ruled out.

Section 508
Revocation with regard to instalment payment transactions

The entrepreneur may only revoke an instalment payment transaction by reason of default in payment by the consumer if the requirements designated in section 498 sentence 1 are satisfied. The total amount corresponds to the nominal amount. The consumer must also compensate the entrepreneur for the expenses incurred as a result of the contract. The decrease in value that has since occurred must be taken into account in the calculation of remuneration for the emoluments of a thing to be returned. If the entrepreneur takes back the thing supplied under the instalment payment transaction, he is deemed to be exercising the right of revocation, unless the entrepreneur agrees with the consumer to pay the latter the usual market value of the thing at the time of its removal. Sentence 5 applies with the necessary modifications if a contract for the supply of a thing is linked to a consumer credit agreement (section 358 (3)) and if the lender takes the thing for himself; in the case of revocation, the legal relationship between the lender and the consumer is determined under sentences 3 and 4.

Section 509
Verification of credit worthiness

The entrepreneur must evaluate the credit worthiness of the consumer prior to conclusion of a contract on nongratuitous financing assistance. The basis for the evaluation may be information from the consumer and where necessary information from agencies which commercially collect, store or alter personal data which may be used to evaluate consumers’ credit worthiness for the purpose of transmission. The provisions to protect personal data remain unaffected thereby.

Subtitle 3
Instalment supply contracts between an entrepreneur and a consumer

Section 510
Contracts for delivery by instalments

(1) The contract between a consumer and a trader must be in writing if the contract

1. has as its subject matter the supply of more than one thing sold as belonging together by way of instalments and remuneration is to be paid for the totality of the things in instalments,

2. has as its subject matter the periodic supply of things of the same kind, or

3. has as its subject matter the duty of recurrent acquisition or procurement of things.

This does not apply if the consumer is given the opportunity to retrieve the terms of the contract, including the standard business terms, when he enters into the contract, and to store them in a reproducible form. The trader must provide the consumer with the contents of the contract in text form.

(2) Subject to the stipulations of subsection (3), the consumer is entitled to a right of withdrawal pursuant to section 355 in the case of contracts pursuant to subsection (1) that are neither distance contracts nor off-premises contracts.

(3) The right of withdrawal pursuant to subsection (2) does not apply to the extent specified in section 491 subsections (2) and (3). The net loan amount referred to in section 491 (2) number 1 is equal to the sum of all instalments to be paid by the consumer prior to the earliest termination date.

Subtitle 4
Mandatory nature, application to founders of new businesses

Section 511
Deviating agreements

The provisions of sections 491 to 510 may not be derogated from to the disadvantage of the consumer unless otherwise provided. These provisions apply even if they are circumvented by other constructions.

Section 512
Application to founders of new businesses

Sections 491 to 511 also apply to natural persons who are granted a loan, postponement of payment or other financing assistance to take up a trade or self-employed occupation or who enter into a contract for delivery by instalments for this purpose, unless the net loan amount or the cash price exceeds 75,000 euros.

Sections 513 to 515 (repealed)

Table of contents (German Civil Code)

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