Print Friendly, PDF & Email

The borrower must disclose his financial circumstances if and to the extent that an objective assessment of the financial situation shows that repayment of the loan is not possible or not likely, i.e. the lender was expected to take an unusual risk under the circumstances by granting the loan.

Term-Nr.: 285

German: Offenbarungspflicht (577)

Source: LK-Lötscher, 11.05.2020

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *