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Information Letter on the Practice of the Application of Article 1002(2) of the Civil Code of the Russian Federation, No. 68 - Russia and the Republics Legal Materials - Second Series
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22318
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Originally from Russia and the Republics Legal Materials - Second Series
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According to Article 1002, paragraph two, of the Civil Code of the Russian Federation, in the event a commission agent is declared to be insolvent (or bankrupt), his rights and duties with regard to transactions concluded by him for the committent in performance of the instructions of the last shall pass to the committent.
The Presidium of the Supreme Arbitrazh Court of the Russian Federation informs arbitrazh courts about the recommendations worked out with regard to the application of the particular norm.
1. The transfer to the committent of the rights and duties of the commission agent with regard to transactions with third persons shall occur by virtue of an expression instruction of a law and not require the conclusion of a special agreement between the commission agent and the committent, and also the consent of the commission agent, committent, and third person.
William E. Butler, Emeritus Professor of Comparative Law in the University of London, attached to University College London, is the John Edward Fowler Distinguished Professor of Law at the Dickinson School of Law, Pennsylvania State University, and Founder and Director of The Vinogradoff Institute.
An authority on the legal systems of Russia and former Soviet nations, he is the author, co-author, editor or translator of more than 3,500 books and articles on Russian, Soviet, Kazakhstan, Ukrainian, Uzbekistan, and other Commonwealth of Independent States legal systems. He has acted as Counsel to the EBRD, European Union, World Bank, United Nations, and Department for International Development of the United Kingdom on individual law reform projects.
The recipient of numerous honors for his service to Russian and international law, Professor Butler is Academician of the National Academy of Sciences of Ukraine and the Russian Academy of Natural Sciences, Associate of the International Academy of Comparative Law, and Member of the Russian Academy of Legal Sciences. He has been elected to his fourth term as a member of the Russian International Court of Commercial Arbitration. In 2003 Professor Butler was awarded the G. I. Tunkin Medal by the Russian International Law Association.
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