The Principles of European Contract Law is a set of model rules drawn up by leading contract law academics in Europe. It attempts to elucidate basic rules of contract law and more generally the law of obligations which most legal systems of the member states of the European Union hold in common. The Principles of European Contract Law (PECL) are based on the concept of a uniform European contract law system, and were created by the Commission on European Contract Law (“Lando Commission”). The PECL take into account the requirements of the European domestic trade.
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—Frederick The Great (1712–1786)
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—Franz Grillparzer (1791–1872)
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—Walter Bagehot (1826–1877)