The Experts below are selected from a list of 95751 Experts worldwide ranked by ideXlab platform
Alexander J. Wulf - One of the best experts on this subject based on the ideXlab platform.
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Institutional competition of optional codes in European Contract Law
European Journal of Law and Economics, 2014Co-Authors: Alexander J. WulfAbstract:The Common European Sales Law (CESL) is the European Commission’s most recent policy initiative for European Contract Law. It aims to address the problem that differences between the national Contract Laws of the Member States may constitute an obstacle for the European Internal Market. This paper develops a model of the institutional competition in European Contract Law and uses it to addresses the question as to whether an optional European Contract code and the CESL are economically desirable for European Contract Law. To do so I examine the transaction costs involved in the process of choosing an applicable Law that European businesses face when they conduct cross-border transactions in the European Internal Market. I then describe how these transaction costs shape the competitive environment, i.e. what I refer to as the “European market for Contract Laws” in which the Contracting parties choose a Law to govern their cross-border Contracts. Having identified this environment and the competitive forces operating within it, I propose a model, the “Cycle of European Contract Law”. I use this model to analyze the competitive processes that take place in the European market for Contract Laws. Based on my results I make recommendations for the optimal implementation of an optional European Contract code and the CESL in European Contract Law.
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Institutional Competition between Optional Codes in European Contract Law - Institutional competition of optional codes in European Contract Law
European Journal of Law and Economics, 2014Co-Authors: Alexander J. WulfAbstract:The Common European Sales Law (CESL) is the European Commission’s most recent policy initiative for European Contract Law. It aims to address the problem that differences between the national Contract Laws of the Member States may constitute an obstacle for the European Internal Market. This paper develops a model of the institutional competition in European Contract Law and uses it to addresses the question as to whether an optional European Contract code and the CESL are economically desirable for European Contract Law. To do so I examine the transaction costs involved in the process of choosing an applicable Law that European businesses face when they conduct cross-border transactions in the European Internal Market. I then describe how these transaction costs shape the competitive environment, i.e. what I refer to as the “European market for Contract Laws” in which the Contracting parties choose a Law to govern their cross-border Contracts. Having identified this environment and the competitive forces operating within it, I propose a model, the “Cycle of European Contract Law”. I use this model to analyze the competitive processes that take place in the European market for Contract Laws. Based on my results I make recommendations for the optimal implementation of an optional European Contract code and the CESL in European Contract Law.
Norbert Reich - One of the best experts on this subject based on the ideXlab platform.
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A European Contract Law, or an EU Contract Law Regulation for Consumers?
Journal of Consumer Policy, 2005Co-Authors: Norbert ReichAbstract:The paper informs about initiatives of the EC Commission to create a set of instruments for advancing a European Contract Law, in particular a “common frame of reference.” It questions the underlying assumptions in the still somewhat unclear and open Commission communications. It doubts whether EU has any competence to harmonise Contract Law under the internal market jurisdiction of Art. 95 EC. As an alternative, it proposes the elaboration and eventual adoption of an EU consumer Contract Law regulation (ECCLR) based on Art. 153 (3) b) EC which would take direct effect and be limited to minimal, yet directly applicable rules on consumer protection in Contract Law.
Martijn W. Hesselink - One of the best experts on this subject based on the ideXlab platform.
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Democratic Contract Law
European Review of Contract Law, 2015Co-Authors: Martijn W. HesselinkAbstract:This article discusses the normative relationship between Contract Law and democracy. In particular, it argues that in order to be legitimate Contract Law needs to have a democratic basis. Private Law is not different in this respect from public Law. Thus, the first claim made in this article will be that also for Contract Law a democratic basis is a necessary condition for legitimacy. A fully democratic basis may also be a sufficient condition for a legitimate and just Contract Law. However, my argument in that regard is more conditional. If all relevant reasons and arguments (including moral arguments), made by people from different corners in society, have had a fair and equal chance of influencing the Contract Law making process, then the outcome may be hard to challenge on the basis of an external standard, such as justice, morality, tradition, efficiency or private Law’s purported essential nature. These two claims, if successful, have important implications for Contract theory. In particular, they lead to a largely procedural theory of Contract Law, which is pluralist with regard to Contract Law’s content: arguments based on party autonomy, weaker party protection, corrective justice, economic efficiency, or legal traditions, will have to demonstrate their strength within the democratic debate and cannot claim to represent some essential truth with regard to the nature of Contractual obligation. The justice and legitimacy of Contract Law cannot be determined in advance by theoretical analysis but will have to establish itself within the democratic debate. Private Law theorists have no privileged access to the truth of Contract Law and Contractual justice.
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Contract Theory and EU Contract Law
SSRN Electronic Journal, 2015Co-Authors: Martijn W. HesselinkAbstract:This paper explores the relationship between Contract theory and European Contract Law. In particular, it confronts the leading Contract Law theories with the main characteristics of EU Contract Law. The conclusion is that the two do not match well. In particular, monist normative Contract theories are largely irreconcilable with the Contract Law of the EU. The paper further addresses the main implications of this mismatch, both for Contract theory and for EU Contract Law. It suggests that in the light of the two undeniable facts of the Europeanisation of Contract Law and the pluralism of reasonable worldviews the essentialist and other monist Contract theories may have become untenable.
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Democratic Contract Law
SSRN Electronic Journal, 2014Co-Authors: Martijn W. HesselinkAbstract:The paper discusses the normative relationship between Contract Law and democracy. In particular, it argues that in order to be legitimate Contract Law needs to have a democratic basis. Private Law is not different in this respect from public Law. Thus, the first claim made in this paper is that also for Contract Law a democratic basis is a necessary condition for legitimacy. A fully democratic basis may also be a sufficient condition for a legitimate and just Contract Law. However, my argument in that regard is more conditional. If all relevant reasons and arguments (including moral and ethical arguments), made by people from different corners in society, have had a fair and equal chance of influencing the Contract Law making process, then the outcome may be hard to challenge on the basis of an external standard, such as justice, morality, tradition, efficiency or private Law's purported essential nature. These two claims, if successful, have important implications for Contract theory. In particular, they lead to a largely procedural theory of Contract Law, which is pluralist with regard to Contract Law’s content: arguments based on party autonomy, weaker party protection, corrective justice, economic efficiency, or legal traditions, will have to demonstrate their strength within the democratic debate and cannot claim to represent some essential truth with regard to the nature of Contractual obligation. The justice or legitimacy of Contract Law cannot be determined in advance by theoretical analysis but will have to establish itself within the democratic debate. Private Law theorists have no privileged access to the truth of Contract Law and Contractual justice.
Federico Della Negra - One of the best experts on this subject based on the ideXlab platform.
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Between Contract Law and Financial Regulation: Towards the Europeanisation of General Contract Law
European Business Law Review, 2017Co-Authors: Mads Andenas, Federico Della NegraAbstract:This paper explores the interactions between the general Law of Contract and the EU derived financial regulatory duties. Starting from the analysis of the legal nature of the EU-derived conduct of business rules duties and the role played by Contract Law in the governance of financial markets, the paper shows that, after the global financial crisis, national courts have used the remedies based on general Contract Law as tools to enforce the EU-derived conduct of business rules and to ensure a high level of client protection. This paper argues that this case Law provides evidence of a gradual process of Europeanisation and modernisation of the general Law of Contract, i.e. of transformation of traditional autonomy-driven categories of general Contract Law into regulatory tools to govern financial transactions and increase the protection of investors.
Jan M. Smits - One of the best experts on this subject based on the ideXlab platform.
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The Future of Contract Law in Europe
SSRN Electronic Journal, 2015Co-Authors: Jan M. SmitsAbstract:This paper reflects upon the future of Contract Law in Europe. It considers the changing roles of legislatures, courts, academics and private actors as a result of Europeanisation and globalisation. It is both investigated how substantive Contract Law may be affected by future developments (the ‘Law of the future’) and how the place of Contract Law in society as a whole may change (the ‘future of Law’). The approach is based upon the premise that if one legal actor becomes less important, other actors can be expected to fill the vacuum, meaning that the roles of the various actors involved in Law making are closely interlinked.
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Toward a Multi-Layered Contract Law for Europe
2005Co-Authors: Jan M. SmitsAbstract:In this paper, the author discusses one of the options for the future development of European Contract Law as sketched in the European Commission's Communication on European Contract Law of 2001. It is defended that a uniform Contract Law for Europe will necessarily be multi-layered and fragmentary. The best way to achieve uniform Contract Law is by way of an optional code.
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The future of European Contract Law: on diversity and the temptation of elegance
2001Co-Authors: Jan M. SmitsAbstract:This paper considers the future of Contract Law in Europe. With the recent publication of the European Commission's Communication on European Contract Law, the debate on the feasibility and contents of a unified European Contract Law will probably broaden from a merely academic debate to a political one. The main tenet of this paper is that a proper political perspective on the future of European Contract Law cannot consist of a 'generalizing approach' such as the formulation and enactment of principles of European Contract Law. The future of Contract Law in Europe lies in recognizing tendencies of divergence in the Law of Contract, rather than in enacting general abstractions. This plea for a fragmented European Contract Law is preceded by a sketch of the historical development toward a general Law of Contract.