Legal capacity in online loan transactions (The study on legal personal liability theory)

Published: Mar 14, 2023

Abstract:

Purpose: This study aims to determine how the law views the aspect of legal capacity in conducting online loan transactions and the exact aspect of legal capacity in the context of the Legal Personal Liability theory.

Research Methodology: This research employed a blended aspect by using a statutory approach, case approach, and theoretical approach.

Results: The author claims that the understanding of legal capacity in the legal aspect that measures age and status is inappropriate, and legal capacity must be interpreted not only in terms of age or status but it must also be interpreted more broadly, involving the ability of the parties to make decisions and the ability of the parties to carry out what has been decided by prioritizing legal personal liability.

Limitations: The author argues that positioning Legal personal Liability is very important in Loan transactions. Legal capacity should not be merely interpreted in terms of age and status aspect but it should take broad interpretation because related awareness to implement the agreement has been made. The restrictions of legal capacities based on the law in Indonesia are to be analyzed using the theory of Legal Personal Liability.

Contribution: This study is expected to educate and be useful to lecturers, legal practitioners, loan business practitioners, policymakers, the financial service authority, and all the members of the public performing loan transactions.

Keywords:
1. legal capacity
2. loan transaction
3. personal liability
Authors:
Supeno Supeno

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References

    Arvante, J. Z. Y. (2022). Dampak Permasalahan Pinjaman Online dan Perlindungan Hukum Bagi Konsumen Pinjaman Online. Ikatan Penulis Mahasiswa Hukum Indonesia Law Journal, 2(1).

    Bates, R. (2017). Banking on the future: an exploration of fintech and the consumer interest. A Report for Consumers International.

    Chengappa, M., & Jha, A. (2021). Personal Liability: Forging New Tools of Accountability in Public Law. Indian Journal of Public Administration, 67(1), 27-39.

    Dotsenkoa, E. L., Startsevaa, V. A., Pchelinaa, O. V., Karaberovab, E. V., & Ivantsovab, N. (2020). Responsible decision making as primary school children move into adolescence.

    Ehrentraud, J., Ocampo, D. G., Garzoni, L., & Piccolo, M. (2020). Policy responses to fintech: a cross-country overview.

    Garrido, J., Liu, Y., Sommer, J., & Viancha, J. S. (2022). Keeping Pace with Change: Fintech and the Evolution of Commercial Law. FinTech Notes, 2022(001).

    Glen, K. B. (2015). Supported decision-making and the human right of legal capacity. Inclusion, 3(1), 2-16.

    Global, F. (2022). Contract intelligence company Icertis launches new tool. Retrieved from https://fintech.global/2022/10/14/contract-intelligence-company-icertis-launches-new-tool/

    Intan, N. (2022). Kerugian Pinjol Capai Rp 114,08 Miliar Akibat Beban Operasional Tinggi. Republika.co.id.

    Lestari, D., & Rahmanto, B. T. (2021). Fintech and Its Challenge for Banking Sector. Management, 6(01).

    Magna, M. S. (2020). IS THE AGREEMENT WITH FINTECH SERVICES VALID? Surakarta Law and Society Journal, 2(2), 111-119.

    Mahfuz, A. L. (2021). ANALISIS RESIKO HUKUM EKSISTENSI BISNIS PINJAMAN ONLINE DI INDONESIA. Doctrinal, 6(2), 110-122.

    Muslih, M., & Supeno, S. (2022). Financial technology: digital legal challenges and Indonesia's economic prospects after Covid-19 outbreak. Legality: Jurnal Ilmiah Hukum, 30(2).

    Panos, G. A., & Wilson, J. O. (2020). Financial literacy and responsible finance in the FinTech era: capabilities and challenges (Vol. 26, pp. 297-301): Taylor & Francis.

    Pradnyawati, N. M. E., Sukandia, I. N., & Arini, D. G. D. (2021). Perjanjian Pinjaman Online Berbasis Financial Technology (Fintech). Jurnal Konstruksi Hukum, 2(2), 320-325.

    Putra, S. D. (2021). Analisis Hukum terhadap Keabsahan Perbuatan Pembobolan Pinjaman Online Ilegal. Al Yasini: Jurnal Keislaman, Sosial, hukum dan Pendidikan, 6(2), 279-279.

    Putri, L. A. K., Nasution, B., Sunarmi, S., & Siregar, M. (2022). TANGGUNGJAWAB PENYELENGGARA LAYANAN PEER TO PEER LENDING TERHADAP RESIKO KERUGIAN PENGGUNA LAYANAN PEER TO PEER LENDING BERDASARKAN POJK NO. 77/POJK. 01/2016 TENTANG LAYANAN PINJAM MEMINJAM UANG BERBASIS TEKNOLOGI INFORMASI. Mahadi: Indonesia Journal of Law, 1(2).

    Subagiyo, D. T., Gestora, L. R., & Sulistiyo, S. (2022). Characteristic of Illegal Online Loans in Indonesia. Indonesia Private Law Review, 3(1), 69-84.

    Sudirman, L., & Disemadi, H. S. (2022). Legal Protection for Borrowers and Business Dispute Resolution in Fintech Lending Services. Jurnal Jurisprudence, 11(2), 187-204.

    Tok, Y. W., & Heng, D. (2022). Fintech: Financial Inclusion or Exclusion? : International Monetary Fund.

    Triasih, D., Muryati, D. T., & Nuswanto, A. H. (2021). Perlindungan Hukum Bagi Konsumen dalam Perjanjian Pinjaman Online. Paper presented at the Seminar Nasional Hukum Universitas Negeri Semarang.

    Virgionandy, R., Husni, L., & Muhaimin, M. (2021). The Legal Liability of Fintech Companies for Accessing Telephone Contact Lists and Photo Galleries in the Online Loan Process. International Journal of Multicultural and Multireligious Understanding, 8(2), 191-205.

    Widi, F., Qahar, A., & Aswari, A. (2021). Legal Protection Against Personal Data In Online Loan Transactions. Golden Ratio of Law and Social Policy Review, 1(1), 17-25.

    Yuniarti, S., & Rasyid, A. (2020). Consumer Protection in Lending Fintech Transaction in Indonesia: Opportunities and Challenges. Paper presented at the Journal of Physics: Conference Series.

  1. Arvante, J. Z. Y. (2022). Dampak Permasalahan Pinjaman Online dan Perlindungan Hukum Bagi Konsumen Pinjaman Online. Ikatan Penulis Mahasiswa Hukum Indonesia Law Journal, 2(1).
  2. Bates, R. (2017). Banking on the future: an exploration of fintech and the consumer interest. A Report for Consumers International.
  3. Chengappa, M., & Jha, A. (2021). Personal Liability: Forging New Tools of Accountability in Public Law. Indian Journal of Public Administration, 67(1), 27-39.
  4. Dotsenkoa, E. L., Startsevaa, V. A., Pchelinaa, O. V., Karaberovab, E. V., & Ivantsovab, N. (2020). Responsible decision making as primary school children move into adolescence.
  5. Ehrentraud, J., Ocampo, D. G., Garzoni, L., & Piccolo, M. (2020). Policy responses to fintech: a cross-country overview.
  6. Garrido, J., Liu, Y., Sommer, J., & Viancha, J. S. (2022). Keeping Pace with Change: Fintech and the Evolution of Commercial Law. FinTech Notes, 2022(001).
  7. Glen, K. B. (2015). Supported decision-making and the human right of legal capacity. Inclusion, 3(1), 2-16.
  8. Global, F. (2022). Contract intelligence company Icertis launches new tool. Retrieved from https://fintech.global/2022/10/14/contract-intelligence-company-icertis-launches-new-tool/
  9. Intan, N. (2022). Kerugian Pinjol Capai Rp 114,08 Miliar Akibat Beban Operasional Tinggi. Republika.co.id.
  10. Lestari, D., & Rahmanto, B. T. (2021). Fintech and Its Challenge for Banking Sector. Management, 6(01).
  11. Magna, M. S. (2020). IS THE AGREEMENT WITH FINTECH SERVICES VALID? Surakarta Law and Society Journal, 2(2), 111-119.
  12. Mahfuz, A. L. (2021). ANALISIS RESIKO HUKUM EKSISTENSI BISNIS PINJAMAN ONLINE DI INDONESIA. Doctrinal, 6(2), 110-122.
  13. Muslih, M., & Supeno, S. (2022). Financial technology: digital legal challenges and Indonesia's economic prospects after Covid-19 outbreak. Legality: Jurnal Ilmiah Hukum, 30(2).
  14. Panos, G. A., & Wilson, J. O. (2020). Financial literacy and responsible finance in the FinTech era: capabilities and challenges (Vol. 26, pp. 297-301): Taylor & Francis.
  15. Pradnyawati, N. M. E., Sukandia, I. N., & Arini, D. G. D. (2021). Perjanjian Pinjaman Online Berbasis Financial Technology (Fintech). Jurnal Konstruksi Hukum, 2(2), 320-325.
  16. Putra, S. D. (2021). Analisis Hukum terhadap Keabsahan Perbuatan Pembobolan Pinjaman Online Ilegal. Al Yasini: Jurnal Keislaman, Sosial, hukum dan Pendidikan, 6(2), 279-279.
  17. Putri, L. A. K., Nasution, B., Sunarmi, S., & Siregar, M. (2022). TANGGUNGJAWAB PENYELENGGARA LAYANAN PEER TO PEER LENDING TERHADAP RESIKO KERUGIAN PENGGUNA LAYANAN PEER TO PEER LENDING BERDASARKAN POJK NO. 77/POJK. 01/2016 TENTANG LAYANAN PINJAM MEMINJAM UANG BERBASIS TEKNOLOGI INFORMASI. Mahadi: Indonesia Journal of Law, 1(2).
  18. Subagiyo, D. T., Gestora, L. R., & Sulistiyo, S. (2022). Characteristic of Illegal Online Loans in Indonesia. Indonesia Private Law Review, 3(1), 69-84.
  19. Sudirman, L., & Disemadi, H. S. (2022). Legal Protection for Borrowers and Business Dispute Resolution in Fintech Lending Services. Jurnal Jurisprudence, 11(2), 187-204.
  20. Tok, Y. W., & Heng, D. (2022). Fintech: Financial Inclusion or Exclusion? : International Monetary Fund.
  21. Triasih, D., Muryati, D. T., & Nuswanto, A. H. (2021). Perlindungan Hukum Bagi Konsumen dalam Perjanjian Pinjaman Online. Paper presented at the Seminar Nasional Hukum Universitas Negeri Semarang.
  22. Virgionandy, R., Husni, L., & Muhaimin, M. (2021). The Legal Liability of Fintech Companies for Accessing Telephone Contact Lists and Photo Galleries in the Online Loan Process. International Journal of Multicultural and Multireligious Understanding, 8(2), 191-205.
  23. Widi, F., Qahar, A., & Aswari, A. (2021). Legal Protection Against Personal Data In Online Loan Transactions. Golden Ratio of Law and Social Policy Review, 1(1), 17-25.
  24. Yuniarti, S., & Rasyid, A. (2020). Consumer Protection in Lending Fintech Transaction in Indonesia: Opportunities and Challenges. Paper presented at the Journal of Physics: Conference Series.