MISKOLCI EGYETEM

20th century. It will be followed by views regarding the classifications of contracts
devised by legal scholars in the 60’s, 70’s and 80’s (Eörsi, Harmathy, Novotni,
Vékás), whom I personally consider the most excellent theorists in this field. Since
the change of the regime, taking place more than two decades ago, the emergence of
new contract types has accelerated, ie., atypical contracts have appeared, which have
brought up the necessity of a new classification system. Considering all this, I sum
up the new concepts concerning this topic published recently.
Then I will set up my own system.
First I define the contract of investment services related to civil law contracts
and commercial contracts. A deal will qualify as a commercial contract, if at least
one of the parties is a businesslike economic organisation, having the necessary
expertise and information able to manage similar deals. These parties are required
higher expectations and requirements by law. In the framework of investment
services, at least one of the parties, that is, the investment venture can meet these
criteria. It is also a common phenomenon, that not only either of the parties, but both
of them can meet these high criteria, as in the majority of cases the provision of
investment services is implemented through the legal relationship of an investment
venture and a professional client. Besides the specific legal status of the parties, the
contract of investment services also qualifies as a commercial contract due to the
specific service it provides.
In the next stage, the contracts of investment services are set in the deals of the
capital market. Capital movement, capital flow and capital intermediation in the
market economy are implemented through numerous deals.
When classifying these deals, investment deals will be defined as the broadest
category comprising all contracts – both contracts in civil law and commercial
contracts – focusing on investments. They are subdivided into investment contracts
which are concluded in capital and security markets. I classify primary market deals
into this category, that is, the contract between the issuer of securities and the first
customer of securities together with the deals implemented in the secondary market
whose indirect object, specifically, is the securities already issued.
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