%0 Journal Article
%T Theoretical and Practical Aspects of Unfair Terms in Consumer Credit Contracts
%A Doina UDRESCU
%A Monica COCOR
%J Risk in Contemporary Economy
%D 2012
%I Dunarea de Jos University of Galati
%X The transformations taken place after 1989 in Romania also imposed explicit regulations in protecting consumers in their relationship with the suppliers of Goods or Services as per Law 296/2004 on Consumption Code ¨C the consumer is ¡°the natural person or group of natural persons gathered in associations who purchases, acquires, utilizes or consumes products or services beyond his professional activity.¡± ¡°Amongst the banks in Romania, 99.99% have unfair terms in their credit contracts with the population. Of all the cases, we haven¡¯t lost any so far and neither shall we. Once the sentence pronounced, the bank was obligated to indemnify the amounts of money obtained from the client through such unfair terms¡± said the president of ANPC.
%K Unfair terms
%K credit contracts
%K consumer
%K protection
%K trader
%K obligations
%U http://www.rce.feaa.ugal.ro/sites/default/files/UdrescuCocor.pdf