Abstract
Abstract: the article analyzes the main stages of formation and modification of the civil construction of a security paper under Russian law. The features and directions of development of the legal form and general legal content of security papers in the aspect of their compliance with the definition and conceptual understanding as financial instruments are revealed. The main theoretical categories are considered in their unity: legal structure, legal regime, legal nature. New approaches to the definition of basic legal definitions and corresponding legal concepts that contribute to strengthening the construction of both a security paper and a financial instrument in the context of civil legislation modernization are proposed.
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