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Publishers Abstract:
The European Court of Justice (ECJ) made clear that Directive 85/577/EEC on doorstep selling allowed cancellation of or withdrawal from credit agreements financing the purchase of immovable property -- despite the fact that purchases of immovable property themselves are excluded from the scope of the Directive. The decision thus allowed consumers who had not been properly informed to withdraw from contracts even years after their conclusion. The exercise of a right of withdrawal in respect of one contract should allow the consumer to withdraw also from an agreement that forms a single economic unit with this contract. The effectiveness of a right of withdrawal depends on the exact effects of its exercise and the annotated cases clearly illustrate it is not in the ECJ's power to fill out the blanks and divergences in the current directives.
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