Civil law. Parts I, III and IV. Securities as objects of civil legal relations (the most important)

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Civil law. Parts I, III and IV. Securities as objects of civil legal relations (the most important)

Lecture notes, cheat sheets

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18. SECURITIES AS OBJECTS OF CIVIL LEGAL RELATIONSHIPS

Securities - a variety of things, monetary or commodity documents certifying property rights, the implementation of which is possible only upon presentation of these documents.

Features of securities: the presence of paper as a material object (exception: "uncertificated securities" issued in cases provided for by law (the rights are exercised in the form of entries in special registers or in computers)); literality (written form) - violation of the form established by law entails invalidity; strictly formal nature - the security must contain the details established by law (lack of details entails invalidity); abstract nature - the absence of a basis in accordance with which a security was issued (this feature is inherent in most securities); public certainty - objections based on relations with his predecessors cannot be raised against the holder of the security.

Securities classification

1. According to the method of legitimation of the legal holder of a security - registered, order and bearer.

bearer security - a document, from the content or form of which it follows that the possession of it gives certain rights. The debtor is obliged to provide execution under this document, without requiring other legitimation of the owner (if there is no suspicion that the owner is illegal). AT nominal paper the subject of law (owner) is indicated. The rights from registered papers are transferred in the order of a general civil cession.

Order paper (bill of lading, bill of lading, check, etc.) provides for the obligation of the debtor to fulfill the obligation to the person indicated in this document or, by order of the latter, to a new entity, which, in turn, has the right to transfer the document further by a similar order. The owner of an order paper is legitimized both by presenting a document and by a continuous series of endorsements, while each endorsement must be signed by the person indicated in the previous inscription as an endorser (endorser).

2. By type of property rights - commodity and money. money papers - fix the right to receive a sum of money (bills, checks, bonds).

Commodity papers - fix real rights (most often, the right of ownership and the right of pledge to goods that for some reason are in the possession of another person), for example, bills of lading, warrants.

3. By type of persons issuing securities (issuers): public, issued by state and municipal authorities, and corporate, issued by legal entities.

4. According to the content of the rights contained in them: obligatory, securing the right to participate in any company or to receive funds (shares, bonds, bills, etc.), and real (bill of lading), fixing the right to things in circulation.

The law provides for various ways of transferring securities by delivery, by assignment of the right to claim (cessions), by means of an endorsement (endorsement).

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