Abstract: The subject of the research is the smart contracts, i.e. the systems of automated performance of contractual obligations as part of distributed ledgers. The author examines the phenomenon of smart contracts in terms of their historical development, conceptual description and comparison of smart contracts to generalized definitions of the contract existing in contintental and Anglo-Saxon legal systems. Lukoyanov pays special attention to current restrictions of smart contracts, their possible classifications, peculiarities of the parties' statuses, content and interpretation of the term. The author also touche upon the question about the relationship between the programming code, legal regulation and regulation on the basis of developing lex electronica. The methodological basis of the research includes general, private and special research methods such as dialectical analysis, methods of categorical, logical analysis, comparative law method, etc. The use of new technological solutions used in the legal practice becomes very important in the process of development of the modern digital economy in Russia. At the end of the article the author concludes that being the combination of protocols, user interfaces and obligations expressed in the form of a programming code, smart contracts are meant for formalisation and guarantee of reliability of digital legal relations. Smart contracts are more functional than their paper analogies. The novelty of the research is caused by the fact that the author gives a legal qualification of smart contracts. 

Abstract: The article considers the fundamentals of legal regulation of a trust property participation certificate as a corporate uncertified security in the Law of Mexico. The author describes the trust property institution serving as a basis for such securities emission. Using the provisions of the current Mexican legislation, the author analyzes the legal nature of a trust property participation certificate, studies its details and requirements to trust property participation certificates. The author considers the current classifications of trust property participation certificates based on trust property, priority of payments and the possibility of securities cancellation. The research methodology is based on general scientific and specific research methods: the dialectical method, the method of categorial analysis, logical analysis and formal legal analysis, the historical method and the method of comparative jurisprudence. The study of legal regulation of trust property participation certificates as objects of private law helps ensuring the protection of interests of local investors and using positive practices in the national law. The study will be interesting for lawyers and other specialists in the sphere of securities of foreign states and civil lawyers in the sphere of private law of Latin American countries.

Abstract: The present article focuses on the legal regulation of shares as corporate securities under Mexican law. The author affirms that shares are corporate securities in the broadest sense of this term, i.e., securities issued by a commercial entity. In accordance with the applicable Mexican legislation shares are analyzed as pro rata quota of the equity capital of a Joint Stock Company; registered uncertificated security; bundle of rights and obligations. The author describes the emission of no par value shares, designed in the United States, by Mexican corporations. It is examined how the shares can be classified under Mexican law. The analysis of the securities regulation ensures protection of the domestic investors' rights, as well as allows to apply good practices in national law. This article will be of interest to lawyers and other experts in the field of securities markets, as well as specialists in civil law of Latin America countries.