EC welcomes European Parliament decision

Tuesday April 12th, 2011

The European Commission has welcomed the decision made by the European Parliament’s Legal Affairs Committee to approve a report that favours the elaboration of an optional European Contract Law.

This came in response to several options put forward by the European Commission for a more coherent approach to contract law .Such a measure could be chosen freely by consumers and businesses in their contractual relations. This optional instrument would be an alternative to the existing national contract laws and would be available in all languages.

Vice-President Viviane Reding, the EU’s Justice Commissioner, said: “It is good news for Europe’s Single Market that the European Parliament’s Legal Affairs Committee favours work towards an optional European Contract Law to facilitate cross-border transactions, notably for small- and medium-sized enterprises and consumers. The Commission will take the European Parliament’s views strongly into account in its further preparation of the European Contract Law initiative. We plan a first initiative on European Contract Law for the Polish Presidency.”

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