Press Release: European Commission holds first contract law roundtable with business and consumer groups

The European Commission held the first meeting of business, consumer and legal practitioners' groups on 7 September 2010 to discuss European contract law. At the moment, different national contract laws lead to higher transaction costs for businesses. Companies – particularly small businesses – cannot exploit economies of scale in the EU’s Single Market. Consumers suffer because there are fewer goods sold across borders, leading to less choice and higher prices.

Progress towards a European contract law could help resolve these problems. The Commission is seeking to build a consensus among key stakeholders on the best way forward on European contract law. It wants to ensure that proposals being drafted by a group of contract law experts meet the needs of both consumers and businesses, especially small and medium-sized enterprises (SMEs). On 1 July 2010, the Commission proposed options for a European contract law in a strategic policy paper and opened a public consultation.

ESO: Background Information: European Contract Law: Chance to have your say http://www.europeansources.info/record/press-release-european-contract-law-chance-to-have-your-say/

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