Limitations on the freedom of contract of credit provider in law of European Union
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Abstract
Credit is a complex legal contract, characterized by the fact that pre-contractual information of the borrower during negotiations is a legal obligation of the lender. The focus of the paper is the legal framework of credit contracts in European Union law, which is analysed in terms of restrictions on the contractual freedoms of lenders. The research was conducted using normative-legal and descriptive-analytical methods. The starting hypothesis is that the lender, despite existing restrictions on freedom of contract, finds new ways to take advantage of his superior position over the credit user, especially if he/she is a consumer, trying to negotiate more favourable terms for himself and to transfer the entire risk of the contract to the other contracting party. The initial hypothesis is confirmed by the fact that a proposal for a new Directive on Consumer Credit was prepared in 2021, further limiting the contractual freedoms of credit providers. The main rules of the proposal demonstrating this are presented in the concluding remarks.
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