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Monday, March 3, 2014

European Parliament Approves Common European Sales Law

EU FlagAs reported here on Out-Law.com, the EU Parliament approved the proposed Common European Sales Law designed to apply to transnational sales conducted by telephone or through the Internet.  Despite opposition from the German and UK governments, the new law found overwhelming support in the EU Parliament, passing by a vote of 416-159, with 65 abstentions. 

The law is now placed before the EU's Council of Ministers, which can adopt the proposal into law.  The EU's Justice Commissioner, Viviane Reding, spoke out in favor of the law, saying that he would cut down on transactions costs by creating a uniform sales law throughout Europe.  The savings would be especially helpful to medium and small business, which account for 99% of all businesses in the EU.  

We summarized the characteristics of the proposed sales law (in its then-current version) here.

You can find the version approved by the EU Parliament here (click on "texts part 3" and go to page 83 of the document that should open up).

Hat tip to Peter Fitzgerald.  

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