1896de Book2 Chapter07 Title05

GERMAN CIVIL CODE OF 1896

• Based on the English Translation by: Wang, Chung Hui (1907). The German Civil Code, translated and annotated with historical introduction and appendices. London: Stevens and Sons. [available on Archive.org]

BOOK II. Law of Obligations.

Chapter VII. Particular Kinds of Obligations.

Title V. Loan for Consumption.

Section 607.

• [I] A person who has received money or other fungible things as a loan is bound to return to the lender what he has received in things of the same kind, quality and quantity.
• [II] A person who owes money or other fungible things for any other reason may agree with the creditor that the money or the things shall be owed as a loan.

Section 608.

• If interest is stipulated for on a loan it is payable, unless otherwise provided, at the end of each year, and, if the loan is to be repaid before the end of a year, at the time of repayment.

Section 609.

• [I] If the time for repayment of a loan is not fixed, its maturity depends upon the giving of notice by the creditor or the. debtor.
• [II] The term of notice is three months in the case of loans of more than three hundred marks; one month, in the case of loans of less amount.
• [III] If interest is not stipulated for, the debtor is entitled to make repayment even without notice.

Section 610.

• A person who promises to make a loan may, in case of doubt, revoke the promise if a serious change for the worse in the financial circumstances of the other party comes about whereby the claim for repayment is endangered.