Abstract

http://ssrn.com/abstract=1951944
 
 

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Will Firms Consider a European Optional Instrument in Contract Law?


Gary Low


Singapore Management University - School of Law; Maastricht European Private Law Institute

October 1, 2011

European Journal of Law and Economics, Forthcoming

Abstract:     
The diversity of contract laws is said by the Commission to discourage cross-border trade and hinder the development by SMEs of a pan-European commercial policy. An optional instrument containing both facilitative general contract rules and mandatory consumer protection rules, one of the solutions proposed by the Commission, is gaining rapid support from key stakeholders. Drawing from firms’ own views on the problems of legal diversity, and insights from organizational science, this article sets out the circumstances in which firms will likely consider a European optional code. Results are mixed: some firms may consider it, while others may ignore it. Much depends the firm’s aspirations (i.e. SMEs cannot be assumed as-yet to have pan-European aspirations), how the firm perceives the problems of legal diversity, and how it searches for and decides upon solutions. It would appear that a European optional instrument may not be as useful or widely considered as its proponents would like to believe.

Number of Pages in PDF File: 20

Keywords: contract law, harmonisation, behavioral analysis

JEL Classification: K12, D03, F15

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Date posted: November 2, 2011  

Suggested Citation

Low, Gary, Will Firms Consider a European Optional Instrument in Contract Law? (October 1, 2011). European Journal of Law and Economics, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1951944

Contact Information

Gary Low (Contact Author)
Singapore Management University - School of Law ( email )
60, Stamford Road
Level 4
Singapore, 178900
Singapore
Maastricht European Private Law Institute ( email )
P.O. Box 616
Maastricht, 6200
Netherlands
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