1203
=U4= Sec499 -- Section 499 Postponement of payment , other financing assistance
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=S=> BGB 499. 1 Subject to subsections ( 2 ) and ( 3 ) , the provisions of sections 358 , 359 , and 492 ( 1 ) to ( 3 ) and sections 494 to 498 apply with the necessary modifications to contracts by which an entrepreneur grants a consumer a nongratuitous postponement of payment of more than three months or grants him other nongratuitous financing assistance .
=S=> BGB 499. 2 Finance leasing contracts and contracts for the supply of a specified thing or the provision of a specified service in return for instalment payments ( instalment payment transactions ) are governed , subject to subsection ( 3 ) , by the special provisions contained in sections 500 to 504.
=S=> BGB 499. 3 To the extent laid down in section 491 ( 2 ) and ( 3 ) , the provisions of this subtitle do not apply . With regard to an instalment payment transaction , the cash payment price takes the place of the net loan amount referred to in section 491 ( 2 ) no . 1.
=U4= Sec500 -- Section 500 Finance leasing contracts
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=S=> BGB 500 Finance leasing contracts between an entrepreneur and a consumer are governed only by the provisions of sections 358 , 359 , 492 ( 1 ) sentences 1 to 4 , section 492 ( 2 ) and ( 3 ) and section 495 ( 1 ) and sections 496 to 498 , with the necessary modifications .
=U4= Sec501 -- Section 501 Instalment payment transactions
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=S=> BGB 501 Instalment payment transactions between an entrepreneur and a consumer are governed only by the provisions of sections 358 , 359 , 492 ( 1 ) sentences 1 to 4 , section 492 ( 2 ) and ( 3 ) , section 495 ( 1 ) and sections 496 to 498 , with the necessary modifications . Apart from this , the following provisions apply .
=U4= Sec502 -- Section 502 Required information , legal consequences of defects of form in instalment payment transactions
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=S=> BGB 502. 1 The contract declaration to be signed by the consumer in the case of instalment payment transactions must show the cash payment price , the instalment payment price ( total amount of down payment and all instalments to be paid by the consumer including interest and other costs ) , amount , number and due date of the individual instalments , the effective annual rate of interest , the costs of an insurance policy taken out in connection with the instalment payment transaction , the agreement of a retention of title or another form of security to be given . The indication of a cash price and an effective annual rate of interest is not required if the entrepreneur only supplies things or performs services in return for instalment payments .
=S=> BGB 502. 2 The requirements of subsection ( 1 ) , of section 492 ( 1 ) sentences 1 to 4 , and of section 492 ( 3 ) do not apply to instalment payment transactions in distance sales if the information described in subsection ( 1 ) sentence 1 nos . 1 to 5 , with the exception of the amount of the individual instalments , is provided to the consumer in text form in such good time that he is in a position to obtain full knowledge of the information before the contract is entered into .
=S=> BGB 502. 3 An instalment payment transaction is void if the requirement of written form in section 492 ( 1 ) sentences 1 to 4 is not observed or if one of the items of information required by subsection ( 1 ) sentence 1 nos . 1 to 5 is omitted . Notwithstanding a defect under sentence 1 , the instalment payment transaction is valid if the thing is delivered to the consumer or the service performed for him . However , the maximum rate of interest on the cash payment price is the statutory rate of interest if the information on the instalment payment price or the effective annual rate of interest is missing . If a cash payment price is not stated , then in case of doubt the market price is deemed to be the cash payment price . The provision of security may not be required if no information has been given in that regard . If information on the effective or initial effective annual rate of interest states a rate that is too low , the instalment payment price is reduced by the percentage by which the effective or initial effective annual rate of interest is too low .
=U4= Sec503 -- Section 503 Right of return , withdrawal with regard to instalment payment transactions
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=S=> BGB 503. 1 Instead of the right of revocation to which the consumer is entitled under section 495 ( 1 ) , the consumer may be given a right of return under section 356.
=S=> BGB 503. 2 The entrepreneur may only withdraw from an instalment payment transaction by reason of default in payment by the consumer if the requirements described in section 498 ( 1 ) are satisfied . The consumer must also compensate the entrepreneur for the expenses incurred as a result of the contract . In the calculation of remuneration for the emoluments of a thing to be returned , the decrease in value that has since occurred must be taken into account . If the entrepreneur takes back the thing supplied under the instalment payment transaction , he is deemed to be exercising the right of withdrawal , unless the entrepreneur agrees with the consumer to pay the latter the usual market value of the thing at the time of its removal . Sentence 4 applies with the necessary modifications if a contract for the supply of a thing is connected to a consumer loan contract ( section 358 ( 2 ) ) and if the lender takes the thing for himself ; in the case of withdrawal , the legal relationship between the lender and the consumer is determined under sentences 2 and 3.
=U4= Sec504 -- Section 504 Advance payment with regard to instalment payment transactions
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=S=> BGB 504 If the consumer performs his obligations under the instalment payment transaction in advance , the instalment price is reduced by the interest and other duration-related costs which , if a graduated method of calculation is applied , are attributable to the period after the date of advance performance . If a cash price as referred to in section 502 ( 1 ) sentence 2 does not have to be stated , the statutory rate of interest ( section 246 ) is to be used as the basis . However , the entrepreneur may demand interest and other duration-related costs for the first nine months of the duration originally envisaged , even if the consumer fulfils his obligations before the end of this period .
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