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Article 698. Retail Sales Contract




Article 697. Reservation of the Ownership Right with the Seller

Article 696. Insurance of Goods

Article 695. Specifics of Payment for Goods in Installments

1. A credit sales contract may provide for the goods payment in installments.

The goods’ price, procedure, terms and amount of payments shall be significant provisions of a credit sales contract with the condition of payment in installments.

2. If the buyer does not make a subsequent installment payment for the goods sold with installment payments and transferred to him, the seller shall have the right to reject the agreement and claim to return the sold goods.

1. The agreement may determine the seller’s or the buyer’s obligation to insure goods.

2. If the party bearing an obligation to insure goods did not insure them, the other party shall have the right to insure goods and to claim reimbursement for the insurance expenses or to reject the agreement.

1. The agreement may determine that the ownership right in the goods transferred to the buyer is reserved with the seller until the goods payment or other circumstances occur. In this case

the buyer shall have no right to dispose the goods till the ownership right in them is transferred to him, unless otherwise is established by the agreement, the law or results from the purpose and the properties of goods.

2. If the buyer delayed with the goods payment, the seller shall have the right to claim to return goods. The seller shall have the right to claim from the buyer to return the goods in case the

circumstances under which the ownership right in goods had to be transferred to the buyer

did not occur.

§ 2. Retail Purchase and Sale

1. Under a retail sales contract the seller undertaking business activity of selling goods shall be obliged to transfer to the buyer the goods usually intended for personal, household or other

use not connected with business activity and the buyer shall be obliged to accept and pay for the goods.

2. A retail sales contract shall be public.

3. Legislation on protection of consumers’ rights shall be applicable to the relations under a retail sales contract with participation of the buyer - an individual – not regulated by this Code.

4. Conditions of the contract restricting the rights of the buyer - an individual as compared to the rights established by this Code and legislation on protection of consumers’ rights shall be

invalid.

5. The buyer shall have the right for reimbursement of the losses inflicted to him by the seller

due to the advantages of his position in the production or trade activity.




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