Plans for a pan-European contract law are gaining momentum.
But yesterday’s publication of the
EC’s proposals have prompted speculation that the
unpopular scheme will soon encompass the financial services
In their present form, the proposals only apply to selling
goods and digital content. "One of the worries is that they
might be extended to cover other areas such as financial
services or insurance," said Vanessa Knapp of Freshfields in
UK businesses used to working on the assumption that the
court will enforce the parties’ agreement now face
the possibility of a court applying EU law to...