Property Outline SpringWord下载.docx

Property Outline SpringWord下载.docx

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e.Locke’stheoryoflaborpropertyrightsareestablishedwhenanindividuallaborsandimprovessomethingwhichhecanthenclaimtobehisown.

2.Whyaresomethingsrecognizedaspropertyandnotothers?

a.Morality

i.Example:

can’tsellbabies

b.Economics

i.Thereisapressuretorecognizepropertyrightswhensomethingisatstake.Whensomethingisinconsequentialitisn’tworththecostforthebenefitofestablishingapropertyright.（i.e.movieticketv.seasonticketstoBrowns）.Costbenefitanalysis.

3.Uses/purposesofpropertyrights

a.Encourageinvestment

b.Increasewealth

c.Ameansofsolvingconflictbetweenresourceholders

d.Personalboundaries

e.Solves“tragedyofthecommons”–negativeeffectsfallonfuturegenerationssooverconsumptionbecomesaproblem

f.Internalizingexternalities（makesyoucontemplatehowyourpropertyaffectsothers）

g.Keepsthepeace（economicefficiency–don’thavetospendfreetimedefendingyourproperty）

B.FirstPossession:

AcquisitionbyDiscovery

1.Johnsonv.M’Intosh

a.Facts-PclaimedtitleunderpurchaseandconveyancefromIndians.DclaimedtitleunderalatergrantfromtheU.S.

b.Holding–DhadavalidpropertyrightbecauseIndianslackedsovereigntyandhadamererighttooccupancyasopposedtofirstpossessors.DiscoverygaveU.S.exclusiverighttoextinguishIndiantitleofoccupancybypurchaseorconquest

c.U.S.wasthesolebuyerofland,whichdramaticallydecreasedcosts.

d.RecognizingIndianpossessionandrighttotransfercouldnullifypriorpurchasesofpropertyfromU.S.government.

2.Firstintimetheory–thenotionthatbeingtherefirstjustifiesownershiprights.Havetobefirstpossessors,notmereoccupants.Legitimatesfirstgrabbing.

a.Positivesoftheory-Thistheoryleadstosecurityandtheoreticallyitisaconcreterule.Also,itgivespeopleanincentivetoacquirelandandtoinvestinit.

b.Negativesoftheory–Inordertohaveaclaimyouhavetodocertainthingstotheland.Thefactthatyouhavetodosomuchcouldresultinadetrimenttonature.

3.LaborTheory–Combinesfirstoccupancyintohistheoryoflaborofproperty–whensomeonetakessomethingitislaborandtherebyhemakesithisown

a.Whenyouremovesomethingoutofnatureandmixitwithlaborandeffortandjoinitwithsomethingthatisyoursthenitbecomesyourpossession.

b.Indiansdidn’tputinanadequateamountoflabortoprotecttheirinterestinthelandsincetheyonly“used”it.

c.Ifyoudon’thavethisrule,peoplewon’tgothroughthetroubletolabor.Itwoulddecreaseproduction.

d.Haslemv.Lockwood–Prakedmanurethathadaccumulatedinthestreet,intendingtocarryitawaythenextday.Dfounditandhauleditoffinhiscart.CourtheldforPwhoclaimedtitleasthefirstoccupantbecausehe“hadchangeditsoriginalconditionandgreatlyenhanceditsvaluebyhislabor.”

C.FirstPossession:

AcquisitionbyCapture

1.Piersonv.Post（foxhuntingcase）

a.PwaspursuingafoxwhenD,knowingPwaspursingit,shotthefoxandcarrieditoff

b.Holding-MerepursuitgavePnolegalrighttothefoxsinceoccupancyofwildanimalsisrecognizedbycorporalpossession.

c.Dissent–Reasonableprospectofcapturetest-Peopleshouldhavearighttoanimalsthattheyhaveareasonableexpectationofcapturing.Also,itwascustomofhunterstogiveownershiptothoseinpursuit.Thistestismoreambiguous.

2.FeraeNaturae（wildanimals）

a.Rule-propertyisacquiredbyoccupancyviacorporalpossessiononly.

b.Traps/cages–Oldrule-havetorenderescapeimpossible.Now–justusereasonablemeanstopreventescape

c.Exception–awildbeastthatismortallywoundedorgreatlymaimedcan’tbeinterceptedbyanotherwhilestillinpursuit.

3.Ghenv.Rich（whalehuntingcase）

a.WhalerssuedtorecovervalueofwhaletheyhadkilledandtaggedwhichwasfoundbyDandwhoauctioneditoff.

b.Propertitlebelongedtothewhalersbecausetheyfollowedthepracticeoftheindustryandtaggedthewaitandindoingsotheydidallthatwaspracticableinordertosecureit.IfDwonthenitwouldviolatedLocke’stheoryoflabor.

4.Custom

a.Courtssometimesusecustomwithinanindustryorsporttodeterminewhoistherightfulowner

i.Custommustbeprevalentandproventobeacustom

ii.Rationale–provideshunterswithanincentive.Ifcustomwasn’tabidedby,nobodywouldhuntbecausethepropertycouldbetakenawayorlost.

5.Keeblev.Hickeringill（duckcase）

a.Pownedapondfortherecreationalhuntingofducks.Drepeatedlydroveawayducks.

b.Holding–althoughPdidn’thaveactualpossessionoftheducks,DisstillliablefortheinterferencewithP’soccupation,professionorlivelihood.

i.ItmattersthatitwasP’soccupation.

ii.IfDhadsetupanotherdecoypondtocompetewithP,itwouldbelegitimate

6.InstrumentalGoals-Animals/FugitiveResources

a.ConstructivePossession（Rationesoli）–Conventionalviewthatanowneroflandhasconstructivepossessionofallwildanimalonit.

b.DoctrineofAnimusRevertendi–Ananimalthathasahabitofreturningisstillinpossessionoforiginalownerwhenitwandersoff.（Note–animalmustbedomesticated）

i.Thisruleisanefficientuseofresourcesbecausepeoplecanbuylessland

ii.Ifadomesticatedanimaliswanderinganditisnotyours,yousupposeitbelongstosomeoneelse.

7.OilandGas–canconceptualizeitasawildanimalbecauseitismobile

a.OilorgasunderbothAandB’sland.AhasnorecoveryagainstBifBalsodrillsbecausehehasn’tcaptureit（thisisconsistentwithPiersonv.Post）

i.TheproblemwiththisisthatAcouldbeforcedtopreemptivelydrillforoilanditcouldleadtotheoverexploitationofresources.

ii.Unitization–allownersofoilandgasundermultipleparties’propertyaresupposedtoactasiftheywereoneunit.

iii.UnionOil–suggeststhatAcouldgetaninjunctionagainstexcessivedrilling,butmostcourtsfollowthePiersonrule.

b.IfAdrillsdownanditbottomsunderB’sproperty,Bcouldrecoverontheoryoftrespass.Generally,propertyrightsextendbelowtheland.

8.Water

a.RuleintheEast–Byhavingfirstpossessionoftheparceloflandbytheriver,youhaveriparianrightstousetheriver.Thereisnorealrequirementthatyoucapturethewater.

b.RuleintheWest–priorappropriation–thefirstpersonwhocapturesthewaterandbutsittoreasonableandbeneficialusehasarightsuperiortolaterappropriators.

9.Externalities

a.Definition–WhenXmakesadecisionabouthowtouseresourceswithouttakingfullaccountoftheeffectsofhisdecisionsonotherpersons.Canbeacostorabenefit.

b.Commonownership–commonownershipincreasesexternalitieswhileprivateownershipdecreasesthem.

i.Trees–100membersofatribewith1,000trees.Onepersonwhocutsdownatreegetsallofthebenefitwhilethenegativeeffectsfallalmosttotallyonother.

ii.Factory–Afactorypollutes.Itcostsneighbors$1,000butthepollutercanfixtheproblemfor$500.Thefactorywon’tspendthe$becausethecostfallsonothers.

iii.Positiveexternalityproblems–Tribemembercoulddecidetoplantseedlingsbuthemaynotundertakethecostbecausethebenefitwouldfallonfuturegenerations.

c.Privatepropertycanbeasolutiontoexternalitiesbecauseiftheindividualownsland,hewillefficientlyusehisresourcesbecauseitaffectshisbottomline.

d.Bargaining–partieswillbargaintoanefficientoutcome（i.e.offertopaytostopnegativeexternalities）.Oncethereisanoffertostopanegativeexternality,itisnolongeranexternalitybecausethebargainmakesthemtakeintoaccounttheaffectontheother.

i.Costofbargainingfree-riding,sometimehardtodeterminethesourceoftheproblem,transactioncosts

ii.Coasetheorem–ifyoudon’thavetransactioncoststhatareaproble,thenitdoesn’tmatterwhattheruleisbecausepeoplewillfindthemostefficientoutcome.However,theprivatesolutionmaynotworkwhentransactioncostsarehighsolawscomeintosolvetheproblem.

e.Tragedyoftheanti-commons–toomanypeoplehaveasay（i.e.multipleownership）whichleadstounderconsumptionandunderproduction.

D.FirstPossession:

AcquisitionbyCreation

1.Propertyinone’sownideas/expression（InternationalNewsServicev.AssociatedPress）

a.DengagedinsystematicpracticeoftakingthenewsstoriesfrombulletinboardsandearlyeditionsofP’snewspapersandsellingthemasitsown.PsuestoenjoinD.

b.Holding-APhasaquasipropertyrightvisavisacompetitorbutnotthepublicatlarge.Applieswhenthenewsifvaluablebecauseitisfreshandnovel.

c.Quasipropertyisusedinordertoensurethatpartieshaveanincentivetoinvestinthecreationofanewsstory.

2.Propertyinone’sperson（Moorev.RegentsoftheUniversityofCA）

a.Psoughttreatmentforleukemia.DtookbloodandtissuesamplesfromP.Ddidn’ttellPhiscellshadagreatscientificandcommercialvalue.

b.Psuedbasedonconversion（wrongfulexerciseofownershiprightsoverthepropertyofanother）

c.Holding–Phadnopropertyrightbecausehedidn’texpecttoretainhiscellsandthedoctorschangedandaddedvaluetothem.

3.TheRighttoIncludeandExclude

a.Thereisn’tanabsolutepropertyrightint