The Need for a European Contract Law: Empirical and Legal PerspectivesJ. M. Smits Europa Law Publishing, 2005 - 188 pages The aim of this book is to discuss the need for a uniform contract law in Europe. At present it is debated to what extent uniformity of law is required from the economic perspective. The view of the European Commission seems to be that diversity of law stands in the way of a proper functioning of the internal market, but this view does not seem to be shared by business: in the reactions to the 'Communication on European Contract Law (2001), it was striking to see that most companies do not consider the present diversity to be a true barrier to trade. This book offers five different perspectives on the need for a uniform contract law. These perspectives include economics, behavioral law and economics, psychology and law. |
Contents
The Commission Action Plan | 3 |
CHAPTER | 5 |
Is Voting an Option? | 9 |
Conclusions | 15 |
On the Term Legal Uncertainty | 18 |
Economic Analysis of CrossBorder Legal Uncertainty | 25 |
3 | 42 |
Introduction | 55 |
4 | 85 |
I | 95 |
2 | 104 |
II | 108 |
Costs of Legal Uncertainty | 111 |
Principles | 114 |
The Ethical Pluralism of Late Modern Europe | 121 |
3 | 131 |
6 | 63 |
I | 65 |
CHAPTER 4 | 69 |
3 | 79 |
The European Union and the Role of the Legal System | 83 |
5 | 138 |
Aim of this Contribution | 155 |
4 | 161 |
6 | 177 |
Common terms and phrases
argument aspects assumptions availability heuristic behavioural law Cambridge choice of law Civil Code cognitive distortions cognitive error Community competition conflict of laws consumer protection context Cooter corporate law costs and benefits costs of legal countries cross-border cultural decisions economic analysis economic growth Economics approach efficient empirical endowment effect European Commission European Contract Law European Union evaluation example fact full harmonization fundamental rights GMOs Hage harmonisation of European heuristic individual institutions internal market issue Journal Kahneman Kerkmeester Korobkin law and economics Law Review lawmaking legal arrangement legal diversity legal rules legal uncertainty legislation models national legal systems norms OJ EC particular parties perspective political Posner possible predictions preferences problems Rachlinski regulations regulatory relevant representativeness heuristic Ribstein role Shavell Smits social status quo bias Sunstein theory Tiebout tion trade traditional law transaction costs Tversky Ulen University Press Wagner Wilhelmsson