1. If the payment is “invented”, the loan is not considered a title for performance These authors argue that the violation of these limits should instead be based on the nullity of the loan agreement on the basis of their position on the basis of the interpretation of Article 117 of Italian banking law, under which the Bank of Italy may require that certain contracts have typical contracts , predefined form and content and that in the event of a breach, the contracts in question must be considered non-agreeable. However, the case law has so far argued that the provisions relating to credito fondiario under Article 38 of Italian banking law are not covered by Article 117 and that, therefore, their violation does not result in nullity. A legal contract must have certain elements to be a valid agreement. Find out what can invalidate a contract and why a contract could be invalidated after it is executed. Many of the challenges faced by credit and credit contracts depend on the lender`s inability to present the original agreement. Sections 77 and 78 of the Consumer Credit Act 1974 require a lender to provide a copy of the credit contract to the borrower upon request and to pay the legal fee (currently $1.00). In many cases, they cannot do so, which has given rise to a number of challenges. These challenges, although credit and obtaining borrowed money were not denied. Before lending money to someone or providing services without payment, it is important to know if you need a credit contract to protect yourself. You never really want to borrow money, goods or services without a credit contract, to make sure you`re reimbursed or that you can take legal action to get your money back. The purpose of a loan agreement is to describe in detail what is loaned and when the borrower must repay it and how.
The loan agreement contains specific conditions that describe precisely what is given and what is expected in return. Once it has been executed, it is essentially a promise to pay by the lender to the borrower. If a worker signs an employment contract and is then asked by his employer to perform illegal work, such as smuggling prohibited goods across a border. B, the contract is immediately invalidated because the object is against the law. This leaves open the question of what the lender can do. So what can a lender do if an agreement is not applicable? The first thing a borrower should remember is the difference between unenforceable and invalid agreements. An invalid credit contract simply has no effect, while an unenforceable agreement simply cannot be applied until certain measures have been taken. If an action is possible, it is considered temporarily unenforceable, but if no action is possible, it will be irrevocably unenforceable. As we have seen, a lender is required to provide a copy of the credit contract.