Legal Literature

Unfair Commercial Practices Directive, Chapter 1, Article 4 Unfair Commercial Practices Directive, Annex I, 14.

This article analyzes the pyramid sale system that according to the author constitutes a misleading commercial practice under Article 9f par. n of Law 2251/1994. The analysis is carried out in response to the decision of the Court of Justice of the European Union of 03.04.2014 (Case C-515/12). The article refers to the concept of a pyramid system and the conditions of its prohibition in accordance with the CJEU decision and it is further examined in particular, whether the financial participation of consumers constitutes - and to what extent - a forbidden pyramid sale system.