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Impact of Special Features of the Rights of Claim Evidenced by Securities on the Legal Nature of Relations between the Debtor and the Creditor

Impact of Special Features of the Rights of Claim Evidenced by Securities on the Legal Nature of... Securities in Russia: The Traditions of the Pandect System and Electronic Commerce 353 those rights and in the end recognized not only the possibility of but the need for vindication claims in relation to non-documentary securities. The applica- tion of the rules of vindication allows better protection of the interests of the bona fi de purchaser of the right evidenced by a non-documentary security. Special Features of the Legislative Defi nition of a Bona Fide Purchaser for Securities. When defi ning a bona fi de possessor of an investment security, including non- documentary, it is necessary to remember that the Law on Securities Markets (part 20 of Article 2) clarifi es this defi nition as compared with the norm in Article 302, part 1, of the Civil Code. Unless proven otherwise, a person who acquired securities, paid for them, and at the time of purchase did not and could not know about the rights of third parties to those securities is recognized as a bona fi de purchaser. What calls attention here is the fact that this defi nition of good faith as applied to investment securities includes not only the subjective attitude of the purchaser to specifi http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Central and East European Law Brill

Impact of Special Features of the Rights of Claim Evidenced by Securities on the Legal Nature of Relations between the Debtor and the Creditor

Review of Central and East European Law , Volume 30 (2-4): 353 – Jan 1, 2005

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Publisher
Brill
Copyright
© 2005 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0925-9880
eISSN
1573-0352
DOI
10.1163/1573035054732898
Publisher site
See Article on Publisher Site

Abstract

Securities in Russia: The Traditions of the Pandect System and Electronic Commerce 353 those rights and in the end recognized not only the possibility of but the need for vindication claims in relation to non-documentary securities. The applica- tion of the rules of vindication allows better protection of the interests of the bona fi de purchaser of the right evidenced by a non-documentary security. Special Features of the Legislative Defi nition of a Bona Fide Purchaser for Securities. When defi ning a bona fi de possessor of an investment security, including non- documentary, it is necessary to remember that the Law on Securities Markets (part 20 of Article 2) clarifi es this defi nition as compared with the norm in Article 302, part 1, of the Civil Code. Unless proven otherwise, a person who acquired securities, paid for them, and at the time of purchase did not and could not know about the rights of third parties to those securities is recognized as a bona fi de purchaser. What calls attention here is the fact that this defi nition of good faith as applied to investment securities includes not only the subjective attitude of the purchaser to specifi

Journal

Review of Central and East European LawBrill

Published: Jan 1, 2005

There are no references for this article.