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Russian civil law between remnants of the past and flavor of the present

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Chapter Summary

In all countries, the civil lawespecially, the law of propertyis linked closely to the social and economic systems. This chapter attempts to characterize the new civil law in Russia. It briefly reviews one example of such a remnant of the past before focusing attention on an institutionthat of the trustwhich is new in Russia. The right of economic management is provided for industrial enterprises and for institutions engaging in commercial activity while the right of operative management is foreseen for non-commercial institutions and treasury enterprises. The new Russian Civil Code has introduced the concept of the trust into the Russian legal system. The chapter discusses main features of the Russian trust. Finally, the trust can be utilized more easily in international intercourseeven as among states from common law jurisdictions on the one hand and the civil law system on the other.

Keywords: economic management; operative management; Russian civil law; trust management.



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