Dusk over the european contract law? Cost-benefit assessment : a review

After years of effort, the European Commission aimed to complete a harmonisation of the European contract law with the instrument called ‘Common European Sales Law’ in order to further facilitate a crossborder trade. However, a strange coalition of both consumer and business organizations was formed against such an instrument. This unexpected turn of events revealed that the proper analysis of not just the benefits of a harmonisation but also its costs may have not been balanced with the respect to various groups of its users. This article deals with the critical cost-benefit assessment of the aforementioned issues to evaluate the current and contemplated path in the European contract law with possible suggestions for further improvement.