Pojęcie instrumentu finansowego
The Term of Financial Instrument

Summary/Abstract: The article describes problems with defining the term of financial instrument. It has to be noted that the term of financial instrument requires to be updated very often. Dy-namic changes occurring the financial market are forcing the legislator to change the existing law frequently in this matter. The article shows the width of the described term and the importance of its proper understanding. Authors point that even though the lawgiver makes some changes frequently it is always one step behind the existing state of things. There is no doubts that practice comes before law. The article is divided in two parts. The first part refers to the economical meaning of financial instrument and the second part is devoted to its juridical aspects. Article is mainly based on Polish binding statutes, directives of EU, Polish and French law literature.

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