Press Release: European Commission welcomes Parliament’s support for an optional Europe-wide contract law

The European Parliament, in a vote of its 736 members plenary today, with an overwhelming majority (521 in favour, 145 against, 8 abstentions) backed optional EU-wide rules for businesses and consumers who are concluding contracts in the Single Market.

The vote by Parliament follows a recent policy announcement by European Commission Vice-President Viviane Reding that she is considering proposing such an optional European contract law in the autumn. Her objective is to bring more coherence to contract law in Europe while easing cross-border transactions, notably for Europe's small businesses and its 500 million consumers.