Judgment of the Court (First Chamber) of 10 April 2008 (reference for a preliminary ruling from the Oberlandesgericht Stuttgart) — Annelore Hamilton v Volksbank Filder eG

(Case C-412/06) (1)

(Consumer protection - Contracts negotiated away from business premises - Directive 85/577/EEC - First paragraph of Article 4 and Article 5(1) - Contract for long-term credit - Right of cancellation)

(2008/C 128/16)

Language of the case: German

Referring court

Oberlandesgericht Stuttgart

Parties to the main proceedings

Applicant: Annelore Hamilton

Defendant: Volksbank Filder eG

Re:

Reference for a preliminary ruling — Oberlandesgericht Stuttgart — Interpretation of Articles 4 and 5 of Council Directive 85/577/EEC of 20 December 1985 to protect the consumer in respect of contracts negotiated away from business premises (OJ 1985 L 372, p. 31) — Cancellation of a loan contract, negotiated away from business premises, to finance the acquisition of shares in a real property fund — National legislation under which the right of cancellation expires one month after both parties have performed in full their contractual obligations, even where a consumer has not been informed of that right

Operative part of the judgment

Council Directive 85/577/EEC of 20 December 1985 to protect the consumer in respect of contracts negotiated away from business premises must be interpreted as meaning that the national legislature is entitled to provide that the right of cancellation laid down in Article 5(1) of the directive may be exercised no later than one month from the time at which the contracting parties have performed in full their obligations under a contract for long-term credit, where the consumer has been given defective notice concerning the exercise of that right.

(1)  OJ C 310 of 16.12.2006.