Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/23090 
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dc.contributor.authorSchmidtchen, Dieteren
dc.date.accessioned2009-01-29T15:36:25Z-
dc.date.available2009-01-29T15:36:25Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/23090-
dc.description.abstractIt is the purpose of the paper to shed light on the question to what extent there is a need for a unified contract law in the European Union. The paper outlines a concept of constitutional uncertainty in international trade and presents a model of international transactions in the presence of a diversity of legal orders and the territoriality of law. The model is used to identify the problems emerging in contracts and the contracting process due to factors such as the multitude of legal orders and the territoriality of law. Next, the economic arguments in favour of and against harmonisation are discussed. In weighing up the costs that full harmonisation generates against the costs of constitutional uncertainty the paper considers the arguments in favour of the diversity of law to be stronger from an efficiency point of view. The paper makes a plea for freedom of choice of contract law and a free movement of judgements in the European Union. Both conditions are necessary and sufficient for a proper functioning of the internal market – but, as a matter of fact, both conditions are already met.en
dc.language.isoengen
dc.publisher|aUniversität des Saarlandes, Center for the Study of Law and Economics (CSLE) |cSaarbrückenen
dc.relation.ispartofseries|aCSLE Discussion Paper |x2007-01en
dc.subject.jelK33en
dc.subject.jelF15en
dc.subject.jelF02en
dc.subject.ddc330en
dc.subject.keywordconstitutional uncertaintyen
dc.subject.keywordterritoriality of lawen
dc.subject.keywordharmonisation of lawen
dc.subject.keywordconflict of lawen
dc.subject.keywordinternational private lawen
dc.subject.keywordtransaction costsen
dc.titleVereinheitlichung des Vertragsrechts in Europa - eine Lösung auf der Suche nach dem Problem? Die Sicht der Neuen Institutionenökonomik-
dc.typeWorking Paperen
dc.identifier.ppn52397695Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:csledp:200701en

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