DEBT SECURITIES, SECURITIES IN THE NEW CODE OF CIVIL LAW – THE NEED OF JUDICIAL DISAMBIGUATION

Eugenia Florescu ()
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Eugenia Florescu: Faculty of Law, Lucian Blaga University of Sibiu, Romania

Perspectives of Law and Public Administration, 2012, vol. 1, issue 1, 167-183

Abstract: A large part of the wealth is invested in securities, which circulate through documents or specific scriptural records that are located in the memory of the computer. These magnetic or paper-made "supports", received different names, in law and in doctrine: debt securities, securities, negotiable instruments or commercial securities, equity securities, bearer bonds, financial instruments, transferable securities, stocks, bonds, bill, promissory note, check, et al. These expressions used by the New Code of Civil Law were assumed tale quale from the specialized language of commercial law, without any concern for explaining the foundation and judicial meaning of these legal institutions, and eliminate the ambiguity in this matter. Under such conditions, the analysis is to identify the criteria under which the judicial genre will separate from the judicial species in relation to the law and jurisprudence of the European Union and/or to the regulations specially adopted at national level, over time.

Keywords: debt securities; securities representative of goods; transferable securities; financial market; money market; stock exchange market of transferable securities. (search for similar items in EconPapers)
JEL-codes: K22 (search for similar items in EconPapers)
Date: 2012
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