Legal Glossary

Territorial jurisdiction is the procedural rule that shows in which court, geographically, an action is to be filed once the type of court with subject-matter jurisdiction has been determined. The court with general territorial jurisdiction is, in most cases, the court of the defendant’s place of residence; however, special or exclusive jurisdiction rules may exist for contract, tort, immovable property and consumer disputes.

A token is a crypto-asset that is created by means of a smart contract on an existing distributed ledger network, without a blockchain network of its own, and that represents a value, service or right in a particular ecosystem. There is no separate definition of a token in the Law; Capital Markets Law No. 6362 treats tokens within the broader concept of the crypto-asset. The definition of a token appears in the Capital Markets Board’s Communiqué No. III-35/B.2 on crypto-asset service providers.

A tort is an event that gives rise to liability for compensation where damage is caused to another by an unlawful and faulty act. In general liability, an unlawful act, damage, fault and an adequate causal link are required. Cases of no-fault liability and of liability for hazardous activities are subject to special provisions.