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EU Commission Green Paper on policy options regarding a European Contract Law for consumers and businesses

Date: 23.07.2010

On 1 July 2010 the EU Commission released its Green Paper on policy options for progress towards a European Contract Law for consumers and businesses. At present, with a multiplicity of different legal systems within Europe, customers in one country may be reluctant to buy goods in another due to uncertainty over the terms which will apply and the level of legal protection they will benefit from. The Green Paper explores a range of options, from the publication of a non-binding “common frame of reference” on which national legislatures can base future laws, through the creation of an optional “28th system” of EU contract law, which the parties could opt to substitute for any national legal regime, to full harmonisation of contract law by means of a Regulation.

The purpose of the Green Paper is to launch a public consultation, which will run until 31 January 2011, to gather opinions from relevant stakeholders regarding possible policy options in the field of European contract law. The Green Paper can be viewed here.

For further information contact Costas Stamatiou or any other member of our EU law department.

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Andreas Neocleous & Co LLC is the leading Cyprus law firm with Cyprus lawyers and other legal experts on all legal matters involving Cyprus law, EU law and international law.