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The
Communication of
October 2004 sets out
the Commission's
follow-up to the 2003
Action Plan, in the
light of the reactions
from EU institutions,
Member States and
stakeholders. It
outlines the plan for
developing the Common
Frame of Reference,
which will provide
clear definitions of
legal terms,
fundamental principles
and coherent model
rules of contract law,
drawing on the EC
acquis and on best
solutions found in
Member States' legal
orders. The adoption of
the Common Frame of
Reference is foreseen
for 2009 following
extensive consultation
and it will be used in
particular as a
"toolbox" for the
Commission when
presenting proposals to
improve the quality and
coherence of the
existing and future
acquis in the area of
contract law.
The
Communication also sets
out the plans for
further work on the
other measures
mentioned in the Action
Plan: promoting the
elaboration of EU-wide
standard contract terms
and reflection on the
opportuneness of an
optional
instrument.
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