introduction to law, lecture 17 - property law

What is property law?

Part of private law that deals with property rights

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Creditor can sue the debtor and take from their patrimonium to pay debts

Why are there property rights?

• Freedom of ownership in free market economy

• Tragedy of the commons (risk and rights of shared things is collectivised) (we are all shepherds that share land, so when the land is over eaten we all bear the risk)

How is ownership protected by constitutional law?

Legislators cannot abolish ownership as an institute

Legislators cannot expropriate private owners (“nationalisation”)

Exceptions: expropriations, on a legal basis, with adequate compensation for owner

How can goods be classified? 4

• movable - immovable

• Tangible - intangible

• Public - private

• Tradable - non tradable

• Etc.

How was property rights in the feudal system?

Pyramid of landholding following grants of fees (feudal rights on land) from lord to vassal

Property rights and personal rights interwoven

How was the property rights during the French Revolution?

Change from a system of landholding into an anti-feudal unitary system of ownership

• positive duties abolished

• Unitary systems of ownership applicable to immovable and movable goods alike

What is the modern definitions in England (common law) for ownership?

What is the difference between legal and economic ownership?

Legal: jut legal perspective

Economic: not owner in legal sense, but entitled to exclude others from use

Ex. Leasing a car

What is usufruct?

What is servitude?

Explain Secondary Property security rights

What are personal security rights? And what disadvantage do they have?

Created by contracts

Secure the payment Monterey claim via extra debtor of the same obligation

• dependent personal security

• Independent personal security

Disadvantage: if extra debtor is also insolvent, no “real” security

What is retention of title clause

If im selling something and believe the buyer wont pay we make a deal where i keep the product until it has fully been payed