THE FORMATION OF CREDIT AGREEMENTS FOR CONSUMERS

Emilia Mihai
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Emilia Mihai: Professor PhD., Faculty of Law, West University of Timisoara, ROMANIA

Curentul Juridic, The Juridical Current, Le Courant Juridique, 2011, vol. 44, 130-142

Abstract: The purpose of Directive 2008/48/EC is to harmonize all aspects concerning credit for consumers, in order to unify the internal market and remove any distortion of competition arising from different national regulations. The instrument used consists in achieving a standard status of protection of the credit consumer. O.U.G. no. 50/2010 on credit agreements for consumers, which transposes into the domestic legislation the European directive, develops like the latter a system of pre-contractual and contractual information and publicity, governed by the principle of transparency, aimed at ensuring the consumer the formation of an informed consent.

Keywords: consumer credit; creditor; consumer; publicity; pre-contractual information; information formalism (search for similar items in EconPapers)
JEL-codes: K12 K35 (search for similar items in EconPapers)
Date: 2011
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