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Publishers Abstract:
The Rome Convention on the Law Applicable to Contractual Obligations of 1980 was not based on the old Article 220 EC, but was from the outset regarded as a natural follow-up to the Brussels Convention. On Jan 14, 2003, the Commission issued a Green Paper on the conversion of the Rome Convention of 1980 into a Community instrument and its modernisation; this was followed by a Proposal for a Regulation on the law applicable to contractual obligations (Rome I) at the end of 2005. With its Green Paper, raising some twenty questions, the Commission launched a wide-ranging consultation process. There were more than eighty replies from academics, academic institutions, economic and other organisations, most of them in favour of such a conversion and some modernisation. This article concentrates on the 'modernisation' aspects of the Proposal -- and on those issues which the Proposal has not yet tackled.
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