PHENOMENON OF DEMATERIALIZATION OF SECURITIES

Abstract

Modern society is characterized by developed commodity - money economy in which money becomes the common denominator for all that in such a society has a value. Everything that has value has a price. Everything that has a price may be subject to civil and commercial law. And the money can become a commodity, for example when we borrow it from each other. It all has its own logic on the market where goods and money have their physical dimensions – where for legal transactions is needed physical transfer of actual property. This obligation in Contract law is called “tradition”, the necessary factual component, which is legal in most areas - even in our law, which is necessary in order to acquire property rights. Transformation of money from his materialized manifestation to non physical caused a lot of confusion about the theoretical nature of such money.