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Full-Text Articles in Law
Property Rules And Liability Rules: The Cathedral In Another Light, James Krier, Stewart Schwab
Property Rules And Liability Rules: The Cathedral In Another Light, James Krier, Stewart Schwab
Stewart J Schwab
Ronald Coase's essay on "The Problem of Social Cost" introduced the world to transaction costs, and the introduction laid the foundation for an ongoing cottage industry in law and economics. And of all the law-and-economics scholarship built on Coase's insights, perhaps the most widely known and influential contribution has been Calabresi and Melamed's discussion of what they called "property rules" and "liability rules."' Those rules and the methodology behind them are our subjects here. We have a number of objectives, the most basic of which is to provide a much needed primer for those students, scholars, and lawyers who are …
The Cathedral' At Twenty-Five: Citations And Impressions, James Krier, Stewart Schwab
The Cathedral' At Twenty-Five: Citations And Impressions, James Krier, Stewart Schwab
Stewart J Schwab
It was twenty-five years ago that Guido Calabresi and Douglas Melamed published their article on property rules, liability rules, and inalienability' Calabresi, then a law professor, later a dean, is now a federal judge. Melamed, formerly a student of Calabresi's, is now a seasoned Washington attorney. Their article-which, thanks to its subtitle, we shall call The Cathedral-has had a remarkable influence on our own thinking, as we tried to show in a recent paper2 This is not the place to rehash what we said then, but a summary might be in order. First, we demonstrated that the conventional wisdom about …
Ownership And Obligations: The Human Flourishing Theory Of Property, Gregory Alexander
Ownership And Obligations: The Human Flourishing Theory Of Property, Gregory Alexander
Gregory S Alexander
Private property ordinarily triggers notions of individual rights, not social obligations. The core image of property rights, in the minds of most people, is that the owner has a right to exclude others and owes no further obligation to them. That image is highly misleading. Property owners owe far more responsibilities to others, both owners and non-owners, than the conventional imagery of property rights suggests. Property rights are inherently relational, and because of this characteristic, owners necessarily owe obligations to others. But the responsibility, or obligation, dimension of private ownership has been sorely under-theorised. Inherent in the concept of ownership …
Property Outlaws, Eduardo Peñalver, Sonia Katyal
Property Outlaws, Eduardo Peñalver, Sonia Katyal
Eduardo M. Peñalver
Most people do not hold those who intentionally flout property laws in particularly high regard. The overridingly negative view of the property lawbreaker as a wrong-doer comports with the nearly sacrosanct status of property rights within our characteristically individualist, capitalist, political culture. This dim view of property lawbreakers is also shared to a large degree by property theorists, many of whom regard property rights as a fixed constellation of allocative entitlements that collectively produce stability and order through ownership. In this Article, we seek to rehabilitate, at least to a degree, the maligned character of the intentional property lawbreaker, and …
Property On Trial: Canadian Cases In Context, James Muir, Eric Tucker, Bruce Ziff
Property On Trial: Canadian Cases In Context, James Muir, Eric Tucker, Bruce Ziff
Eric M. Tucker
Property on Trial is a collection of 14 studies of Canadian property law disputes — some well-known, some more obscure — that have helped to shape the contours of the principles and rules of property law over 150 years. These studies, written by some of Canada's leading legal historians, range in time from a discussion of a nineteenth-century dispute over the ownership of seal pelts in Newfoundland to modern questions of what constitutes private property in a digital age. They investigate the relationship between private and public interests in property; the limits of private property owners' rights in relation to …
Rethinking Adverse Possession: An Essay On Ownership And Possession, Carole Brown, Serena Williams
Rethinking Adverse Possession: An Essay On Ownership And Possession, Carole Brown, Serena Williams
Serena M Williams
In the wake of the present real estate crisis, there has been prolonged discussion of the wrongdoing that led to systemic failures in the national real estate market. The mortgage crisis caught the nation’s attention because of its large scale and its rippling effect throughout the economy. Equally nefarious is the impact of adverse possession on the rights of individual property owners. While a single adverse possession does not affect the national market in the same way as the mortgage crisis did, to the individual owner, the wrongdoing, in the form of a trespass, that ripens into title, is just …