Encyclopedia of Law and Economics 2017
DOI: 10.4337/9781782540465.00012
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Consumer protection in the European Union

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Cited by 6 publications
(10 citation statements)
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“…Stakeholders could contribute the necessary knowledge and expertise about commercial practices and draw up standard terms and conditions in their sector while applying lessons from their first hand practical experiences with the use of the Common European Sales Law. 58 The plan is to promote the creation of clauses that SMEs and other companies involved in cross-border trade can use at a low cost. database.…”
Section: The Development Of 'European Model Contract Terms'mentioning
confidence: 99%
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“…Stakeholders could contribute the necessary knowledge and expertise about commercial practices and draw up standard terms and conditions in their sector while applying lessons from their first hand practical experiences with the use of the Common European Sales Law. 58 The plan is to promote the creation of clauses that SMEs and other companies involved in cross-border trade can use at a low cost. database.…”
Section: The Development Of 'European Model Contract Terms'mentioning
confidence: 99%
“…57 Like in the market for lemons, bad standard terms are likely to drive out the good ones (adverse selection) which could on the long run lead to the a collapse of the standard term market. 58 To overcome this problem, a control mechanism is needed. First of all, mandatory information requirements on the part of the user of the standard terms can reduce the transaction costs to compare and negotiate better terms.…”
Section: Transaction Costsmentioning
confidence: 99%
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