Protecton of a Bona Fide Purchaser of Property Receivables

In the modern world, receivables are not less, and potentially even more important, than tangible property. Nonetheless, Russian law scarcely regulates transactions with receivables. In particular, Russian law protects innocent acquisition of tangible property, but provides no such protection to receivables. However, there are few substantive economic differences between acquisition of receivables and tangible property. Therefore, the difference in the protection of innocent purchasers cannot be justified. The only issue that appears to prevent its implementation is the specific solution to be adopted. As a result, it is not certain how precisely an innocent purchaser would be defined. This subject is rather topical, since it is underdeveloped in Russian civil law and lacks legislative regulation, which is coupled with increasing demand for such mechanism by civil commerce. For all the reasons, this study intends to identify possible ways of protecting innocent purchasers of receivables, which may be implemented into Russian law, and the procedures for such protection as well as its specificities.