The Research Of The Regulation Of Linked Agreements In The Financial Consumer Credit Transactions

The development of a modern market economy can’t be separated from the cultivation and improvement of the consumer market. The economy is a credit economy, credit consumption emerging and developing fast. Booming consumer credit greatly improved the living standards of the majority of consumers, but also to promote the development of market economy and the flow of goods. Financial consumer credit transactions as a major form of consumer credit transactions are widely present in the economic life. In this form of trading, if there is no special legal regulation, on the one hand, consumers may can’t realize autonomy of will because of their weak economy status; on the other hand, they would bear the double risk of contract as the sales contracts and loan contract are in a state of separation. In order to strengthen the protection for consumers, the regulation of linked agreements came into being.The first part discusses consumer credit and its classification. The financial consumer credit is a kind of consumer credit which combines sales credit and loan credit. The specific structure of financial consumer credit is:consumers and operators signed contracts of sale, consumers and lenders signed the loan contracts, financial institutions provides loans may have close relations of cooperation with the operators. Although the sales contracts and the loan contracts are still independent in the form, but because of its close economic relations, so the establishment, performance, eliminate of the contracts have implicated relationship.The second part expounds the regulation of linked agreements. The linked agreements requirements were that the consumer should participate in the contractual relationship as a common contract subject, the purpose of loan is to pay the contract price, and the most critical requirement is that the sales contract and loan contract shall be a whole in the economic. The regulation of linked agreements is a breakthrough of the traditional principle of privity of contract, but this breakthrough is trying to protect the interests of consumers better, so it is reasonable.The third part will discuss right of withdrawal and the extension of right of defense. The right of withdrawal is produced according to the specific provisions of law, it allows consumers to remedy their irrational behavior. In linked agreements, effective withdrawal of a contract will make consumers no longer constrained by another contract. When the goods or service operators provided are not comply with the contract, even the defects of payment make damage to consumers, consumers can exercise the extend right of defense. After the request of compensation performance, they shall have the right of claim against the lenders’ repayment request right. Consumers even can require lenders to waive or reduce the amount of the loan, to make up for the loss caused.The fourth part analyses the present situation of legislation in our country, explore the significance of the regulation of linked agreements in our country. There is a gap in the relevant field of law in our country, although in the judicial practice of linked agreements were made, but there are still many shortcomings. The legislation of our country should establish the regulation of linked agreements, to strengthen the protection of the rights and interests of consumers.