Restriction of Freedom of Contract and Contract Content

Abstract As has become clear in the previous four chapters, the freedom of banks and other financial institutions to decide for themselves whether or not to enter into a contract has been restricted in various respects. Even if a financial institution wishes, and is also permitted, to do business with a given party, all kinds of restrictions still apply. After all, their freedom to determine the content of a contract has been restricted in various ways and for various reasons. This chapter discusses some noteworthy trends and developments: (i) statutory requirements for contract content in relation to financial stability, (ii) statutory requirements for contract content in relation to human rights and the environment, (iii) the civil law duty of care, (iv) unreasonably onerous clauses in consumer contracts (unfair terms).