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Martin Legath publishes article in BankArchiv

14 March 2023

In the latest issue of BankArchiv, Martin Legath comments on a recent decision of the Supreme Court to initiate preliminary ruling proceedings before the ECJ (3 Ob 103/22a). The issue at stake is whether consumers are entitled to a right of withdrawal under the Consumer Rights Directive in the event of an "automatic renewal" of a distance contract for the sale of goods.

The outcome of the proceedings is also of interest to banks: there is a comparable right of withdrawal in distance contracts for the sale of financial services. In addition, the step to rescind "automatic" contract amendments by fictitious consent would only be a small one.

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The BankArchive - Journal for the Entire Banking and Stock Exchange Sector is the scientific journal for bank management, banking law and capital markets. The well-known publication is published by Linde Verlag / Bank Verlag.

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