The Characteristics of Consumer Contracts and Their Place in the System of Private Law Contracts, with Particular Regard to Foreign Currency-Based Loan Contracts and Aspects of Legal Issues Arising in Lawsuits Related to These Contracts
The Characteristics of Consumer Contracts and Their Place in the System of Private Law Contracts, with Particular Regard to Foreign Currency-Based Loan Contracts and Aspects of Legal Issues Arising in Lawsuits Related to These Contracts

Author(s): Eva Odor
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: The development of consumer protection and its appearance in political thinking are closely related (among other things) to the appearance of the market economy and the development of economic conditions in general. In Europe, this phenomenon first appeared in Austria in the mid-1990s, primarily in the areas of the country bordering Switzerland. In Central and Eastern Europe, foreign currency lending in the 21st century started at a rapid pace, which can be supported by many factors. Courts have found themselves in an extremely difficult, never-before-seen situation when dealing with an extremely large number of lawsuits arriving within a short period, typically raising the same legal issues, having a large social impact and evoking significant social interest. In addition, legal issues in which the EU Court has a monopoly on legal interpretation arose in these lawsuits. In order to ensure legal unity as much as possible, the courts try to solve these cases with all the means provided by law.

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