In May this year the expert group published its feasibility study for a future instrument in European Contract Law and interested parties were invited to provide input. Although discussions on a possible European contract law instrument are at an early stage, the EEA EFTA States took the opportunity to put forward their views on the challenges presented by the feasibility study and on 1 July 2011 submitted an EEA EFTA Comment on this study.
The Comment highlighted the importance of ensuring that any future instrument should provide for the natural evolution of contract law as markets and products develop and should not lead to a weakening of national laws that could in turn lead to a reduced level of consumer protection. Certain aspects of the Nordic Acts on the Conclusion of Agreements were also promoted as a potential source of inspiration for the EU in the development of a future proposal on this matter.
Depending on the evaluation of the results of the consultation, the impact assessment and the results of the consultation on the expert group’s feasibility study, the Commission will consider a possible future proposal.
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