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BGB 234. 1 Securities are only suitable for the provision of security if they are made out to the bearer , have a market value and are of a kind in which money held in trust for a ward may be invested . Instruments made out to order and endorsed in blank are equivalent to bearer instruments .
BGB 234. 3 Securities may be provided as security only up to the amount of three quarters of their market value .
BGB 236 A registered claim against the Federal Government or a Land may be provided as security only up to the amount of three quarters of the market value of the securities the delivery of which the creditor may demand in return for cancellation of his claim .
BGB 312d. 4 Unless otherwise specified , the right of revocation does not exist for distance contracts for the supply of goods produced according to customer specifications or clearly tailored to personal needs or which , by reason of their quality , are not suitable for return or may spoil quickly or whose expiration date would be exceeded , for the delivery of audio or video recordings or of software where the seal on the data carriers has been broken by the consumer , for the delivery of newspapers , periodicals and magazines , unless the consumer has given his contractual acceptance by telephone , for the rendering of betting and lottery services , unless the consumer has given his contractual acceptance by telephone , which are entered into in the form of auctions ( section 156 ) , the subject matter of which is the supply of goods or the rendering of financial services whose price is subject to fluctuations on the financial market over which the entrepreneur has no influence and which may occur within the revocation period , including in particular services in connection with shares , dividend coupons which are issued by an investment management company or a foreign investment company , and other tradeable securities , foreign currency , derivatives or money market instruments , or , for the rendering of telecommunications-aided services rendered directly by telephone or fax at one time at the request of the consumer insofar as these are not financial services .