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The Optional EU Contract Law Instrument – What to expect?

7th February 2011

After the publication of the Draft Common Frame of Reference and of the Commission Green Paper on policy options for progress towards a European Contract Law for consumers and businesses, COM(2010)348 final, an EU contract law instrument is now highly likely. The Commission has installed an expert group evaluating the Draft Common Frame of Reference. The European Parliament is currently reflecting on a future contract law instrument. It seems that the currently preferred option for an EU contract law instrument would be the so-called "optional instrument" enabling parties to opt into this regime if they wish to have an alternative to a national contact law. But many questions still remain open. What will be its scope, how will it interact with existing regimes, who will benefit from it, what are its risks and what will be the impact of such instrument on the legal scene in England? These and other issues will be discussed at the seminar.

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