Means of settling European collection of laws (4)
I believe the answer is:
code
'collection of laws' is the definition.
(I've seen this before)
'means of settling european' is the wordplay.
'means of settling' becomes 'cod' (abbreviation for 'cash on delivery'**).
'european' becomes 'e' (abbreviation e.g. EU).
'cod'+'e'='CODE'
(Other definitions for code that I've seen before include "Kind of encryption designed to disguise content" , "conventions" , "Collection of laws" , "Digest of laws" , "Morse is a good example" .)