Memo: European Commission welcomes European Parliament committee vote in support of an optional European Contract Law

The European Parliament’s Legal Affairs Committee has approved a report that favours the elaboration of an optional European Contract Law. This is 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. It could apply in cross-border contracts only, or in both cross-border and domestic contracts. It would have to guarantee a high level of consumer protection and legal certainty throughout the life cycle of a contract.