The idea of creating a European Code for contract law, though recent, has gathered pace. Although most work towards this goal has so far assumed that the principles should be constructed through critical comparative law studies of the existing contract laws of Member States, it is argued here that the acquis communautaire provides a modern and democratically endorsed collection of principles, which can be quite well systematised, that should provide the starting‐point for scholarly endeavours towards the construction of a code of contract law.