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Re: OFT lose against banks in supreme court judgment
"Unfair Terms
5. - (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer."
I think Colin Power has posted this so this is s.5(1)(on LB so here is the full quote of that part of UTCCR 1999.
I'm not commenting on anything on the OFT test case decision since there is LOTS to read and I haven't formed a view on any of it.
OliverCromwell, can I ask what your question is asking cos I am not sure myself that I understand the question? (apologies for asking).
"Unfair Terms
5. - (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer."
I think Colin Power has posted this so this is s.5(1)(on LB so here is the full quote of that part of UTCCR 1999.
I'm not commenting on anything on the OFT test case decision since there is LOTS to read and I haven't formed a view on any of it.
OliverCromwell, can I ask what your question is asking cos I am not sure myself that I understand the question? (apologies for asking).
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