Can I withdraw from a contract if I regret it?
May 25, 2022 | 40,00 EUR | answered by Hans Kuhn
Dear lawyer,
My name is Lina Bacigalupo and I am reaching out to you with a question regarding contract law. A few weeks ago, I entered into a contract for the booking of a service. Unfortunately, I have since realized that I regret this contract and would like to withdraw from it.
The situation is that I was under time pressure at the time and did not thoroughly review the contract terms. Now, upon further consideration, I have come to the decision that the agreed service does not meet my expectations and I would prefer to forgo it.
The current status is that I have already signed the contract and the service has not been utilized yet. My concerns lie in the fact that I am unsure if it is legally possible to withdraw from a contract if one regrets it. I am afraid that I am bound by the contract and that there could be high costs involved if I am unable to withdraw.
Therefore, my question to you as an expert in contract law is: Can I withdraw from a contract if I regret it? Are there legal options to do so without facing legal consequences? What specific steps should I consider taking to exit the contract?
Thank you in advance for your help and support.
Kind regards,
Lina Bacigalupo
Dear Mrs. Bacigalupo,
Thank you for your inquiry regarding contract law. I'm sorry to hear that you are dissatisfied with your current contract situation. In your case, it is important to know that German law generally allows for the possibility of contract withdrawal, but under certain conditions.
First of all, it is important to clarify whether the contract you have entered into is a distance contract. A distance contract exists when the contract was concluded over the internet, by telephone, letter or fax, without both parties being present at the same time. In this case, consumers have a statutory right of withdrawal, which allows them to withdraw from the contract within a certain period without giving any reasons.
If your contract is a distance contract, you can withdraw within 14 days of the contract being concluded without giving any reasons. You would simply need to send a corresponding withdrawal declaration to the contracting party. It is important to note that the withdrawal should be made in writing to prevent any misunderstandings later on.
If your contract is not a distance contract, withdrawal may be more difficult. It depends on the exact contract terms that you signed at the time. Many contracts contain clauses that specify under what conditions withdrawal is possible. Often, there are costs associated with withdrawal that you would have to bear.
In any case, it is recommended to review the contract and its clauses carefully to determine if and under what conditions withdrawal is possible. If the contract does not provide specific withdrawal options, you could try to find an amicable solution with the contracting party. Perhaps they would be willing to agree to a contract dissolution if you explain your reasons to them.
In any case, it is advisable to consult a contract law attorney to receive a legal assessment of the situation and discuss possible steps. Each case is individual, and it is important to receive specific legal advice tailored to your situation.
I hope this information is helpful to you and wish you success in resolving your issue.
Best regards,
Hans Kuhn
Attorney at Law
