An Optional Instrument on EU Contract Law: Could it Increase Legal Certainty and Foster Cross-Border Trade?
Martijn W. Hesselink
University of Amsterdam - Centre for the Study of European Contract Law (CSECL)
October 12, 2010
HET GROENBOEK EUROPEES CONTRACTENRECHT: NAAR EEN OPTIONEEL INSTRUMENT?, pp. 9-23, M.W. Hesselink, A.A.H. van Hoek, M.B.M. Loos & A.F. Salomons, eds., Den Haag: Boom Juridische uitgevers, 2011
Centre for the Study of European Contract Law Working Paper No. 2010/06
It seems likely that an optional instrument on European contract law could have some positive impact on cross-border trade, although its size remains very difficult to estimate. Whether an optional instrument will increase legal certainty depends on the degree to which the European legislator will succeed in making some very clear and transparent choices concerning scope, gap filling, mandatory rules, the modalities of opting in and the legal basis of the instrument.
Number of Pages in PDF File: 23
Keywords: optional instrument, CFR, DCFR, contract, European contract law, opt-in, Rome I, Green paper, choice of law, mandatory rules, legal certainty
JEL Classification: F15, K12
Date posted: October 23, 2010 ; Last revised: September 20, 2011