Parliamentarians to discuss the ways ahead for the European contract law

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The ways to improve the European contract law, thus facilitating cross-border trade and ensuring strong rights for consumers, were at the centre of an inter-parliamentary committee meeting with national Parliaments. The meeting took place in Brussels on 27 October.

The participants initially focused on the history and general principles of the EU contract law. They then discussed the optional European contract law (or "28th system"), one of the ways to improve coherence in contract law. In practical terms, this would mean that a Greek retailer dealing with an Austrian supplier, who is unfamiliar with Austrian law, could opt for European law for the contract.

The inter-parliamentary committee meeting provided EU Parliaments with the opportunity to express their views during the public consultation period launched by the EC on the best way forward on contract law in Europe. The EC also published a strategic policy paper containing several options for a more coherent approach to contract law. Its goal is to bring more legal certainty for businesses and simpler rules for consumers.