I AM SERIOUS. NO TIMEWASTERS. VOIDANCE IN THE SECURITY AGREEMENTS

Abstract

This paper looks at the legal force of the promise (as consent) from the point of view of the security associated to the main obligation. The argument starts from the legal construct which presents the language as a source of human action. At this stage, the major influence of Christianity over modern legal systems becomes apparent since the Word as the creator of the World is a major theme thereof. Based on the principles laid down in the first part, the second part of the paper explores several themes related to the breach of the promise such as: whether the consent of the guarantor should be a special one, what are the particulars of mistake and fraud in the security agreement, when there might be found the lack of consent and how should be determined the will of a legal entity or that of a consumer. The last chapter addresses the potential abuses of the lenders in handling the security and to what extent they could count as duress.