THE PRINCIPLES OF ELECTRONIC SECURITIES IN COSTA RICA: THE ENTRY INTO FORCE OF LAW NO. 10069, LAW ON ELECTRONIC BILLS OF EXCHANGE AND PROMISSORY NOTES

Abstract

The trends of contemporary private patrimonial law seek —in a predictable and uniform way— the adaptation of traditional legal institutions to the requirements of the technological, economic and scientific changes that inform our society. The Legal System cannot be anchored in a parallel dimension. The normative postulates, although they require formal validity, must in turn deal with the substantial legitimacy that demands the corresponding adjustments in the face of social change. The digital economy and the frenetic phenomena of virtualization of human life, require a series of paradigmatic changes at the legal level; In this orientation, the present investigation intends "in a principled key" to account for the new contours that accompany electronic securities, in particular those regulated after the approval of Law No. 10069, called: "Law on bill of exchange and electronic promissory notes” published in Gazette No. 237, Scope No. 251, in force since last December 9, two thousand and twenty-one. Such regulations recognize the need to introduce strictly necessary changes to give rise to the electronification and dematerialization of these securities with the objective that the "substantive law remains unchanged", which will generate important hermeneutical challenges for the legal operators involved in this discipline.