Controversial resolution of the Supreme Court01/09/08 / cata_tax-news

The Supreme Court, in its resolution No. 22/2007, addressed the differences between the loan agreement regulated by the Civil Code and the credit agreement pursuant to the Commercial Code. Pursuant to the Supreme Court, the difference is, inter alia, based on the subject of the agreement.

The subject of the credit agreement is expressly “financial means” whereas the subject of the loan agreement is “items determined pursuant to the type, in particular money”. Pursuant to the resolution of the Supreme Court, funds may be provided, for example, in cash, by transfer to an account or by payment of invoices to the debtor’s creditors, whereas money must be taken over by the debtor in cash. When adopting this interpretation, it would thus not be possible to provide a loan by interbank transfer of funds to an account, since such transfer would mean that a credit is provided.