Where the creditor assigns his rights of the contract or contract itself to a third party, the consumer has the right to assert against the assignment any defences that he could have asserted against the original lender, including a right to compensation if the latter is provided for in the contract and permitted by law. For simplicity, the following example is limited to contracts concluded by telephone: see the complete list of credit agreements that are not covered by the rules on consumer credit agreements. The consumer may also request a free copy of the draft credit agreement, unless the creditor already knows, at the time of the application, that he does not intend to conclude a contract with the consumer. Consumer credit agreements are not to be confused with contracts for the supply of goods or services in which the consumer pays in instalments for the duration of the service or delivery of goods, for example. B a paid subscription to a newspaper. If the provision of a guarantee or guarantee by a Luxembourg company is presumed to exceed the purpose of the company provided for in the articles of association, it is very likely that the company is still linked to the transaction in question, even if it is an ultra vire transaction; however, their management may be held liable. The relevant provision of Luxembourg company law, which stems from the First Company Law Directive, has the merit of protecting lenders in good faith. The company was not able to subsequently invoke the cancellation of the loan or guarantee that was beyond the purpose of the business. But the opposite is happening and the lenders have also not achieved the result of the loan cancellation. Termination of the contract means that the credit agreement is terminated automatically and is considered as never concluded. Asset seizure is the most common collateral in acquisition financing. “Guarantees” are financial instruments and receivables, with the Financial Security Act expressly providing that “financial instruments” are of the “greatest possible importance” and contain a non-exhaustive list of different types of financial instruments.
This is particularly relevant with regard to new types of assets, such as tokens or smart contracts, and the analysis of their ability to qualify as “financial instruments” under the Financial Security Act. However, the assets generally mortgaged remain shares (or other equity or similar securities), loans and bank accounts. . . .