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Legal Innovation in European Contract Law: Within and Beyond the (Draft) Common Frame of Reference

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  • Florian Möslein
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    Abstract

    The Europeanization of contract law has continuously developed over the past 25 years. It is now at a defining stage, with the Draft Common Frame of Reference (DCFR) recently being published. This article is not primarily concerned with the substance of this instrument, but with the process of legal innovation it might trigger. The hypothesis is that the adoption of such a rulebook will have a significant impact on the future development of European contract law. Yet the nature and likely effects of such impact are difficult to predict, given that functions, elements and purposes of the new instrument still need to be identified and defined. In any event, the DCFR will modify the pattern of future legal change in European contract law. The crucial question is: Will it provide a dynamic framework for legal innovation?

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    File URL: http://hdl.handle.net/1814/10687
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    File URL: http://hdl.handle.net/1814/10687
    File Function: Full text
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    Bibliographic Info

    Paper provided by European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS) in its series EUI-RSCAS Working Papers with number 7.

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    Date of creation: 15 Feb 2009
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    Handle: RePEc:erp:euirsc:p0209

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    Keywords: European law; Europeanization; acquis communautaire; comparative law;

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    1. Raaj Kumar Sah, 1991. "Fallibility in Human Organizations and Political Systems," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 67-88, Spring.
    2. Macho-Stadler, Ines & Perez-Castrillo, J. David, 2001. "An Introduction to the Economics of Information: Incentives and Contracts," OUP Catalogue, Oxford University Press, edition 2, number 9780199243259.
    3. Roberta Romano, 2005. "The States as a Laboratory: Legal Innovation and State Competition for Corporate Charters," Yale School of Management Working Papers amz2625, Yale School of Management, revised 01 Jul 2006.
    4. Francesco Parisi & Vincy Fon & Nita Ghei, 2004. "The Value of Waiting in Lawmaking," European Journal of Law and Economics, Springer, vol. 18(2), pages 131-148, September.
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