PROP_Baker_Fall_2000 - PROPERTY BAKER FALL 1999 SECTION 4...

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PROPERTY – BAKER – FALL 1999 – SECTION 4 – page 1 I.  BASIS OF PROPERTY RIGHTS Underlies torts, contracts, criminal law. Property rights include the right to resell or give  away, damage or destroy, alter or manipulate, “hoard” and exclude A. Creating Rights Johnson v. M’Intosh  (J. Marshall) –  Π  Indians in transaction with   Government.   Issue: Who had right to transfer land?   claims first occupancy    conquest ; both claims are “legal.” Decision: Indians get occupancy, possession & use;  only). Now, as a result of acts of Congress, Indians have sovereignty , but no  entitlement as a matter of pre-existing law FIRST OCCUPANCY DISCOVERY / CAPTURE PROS Cheaper: self-evident, no referee Maximizes land “use” Minimizes transaction costs Moral/right:     Investment: mixed labor w/ land     Degree of attachment     “Personhood” includes property     Psychological costs     Reliance: expectation  argument     Arbitary: equality of opportunity Creation of more resources: bigger pie Discoverers ARE first “occupants” Rewards ambition, investment Technological spinoffs lead to progress This is the source of property interest CONS Possible dead-weight social loss Higher transaction costs 6 aspects of property:  claims 1) Occupancy  (term of art) – possession not necessary for occupancy 2) Possession  – gives control, claim 3) Use  – can use w/o any claim (air, etc.); for land: occupy, cultivate, build, pollute,  etc. 4) Title other constraints, a statement of rights, embodies the other aspects 5) Sovereignty  – dominion over other possessors, occupants; a governmental notion 6) Alienability  – rights to transfer legal title Pierson v. Post  –   claims fox b/c he chased it.  removed it. Occupancy  re  ferae naturae: Most control           Least control actual physical possession certain control reasonable prospect of taking mere pursuit first sight desire formalist functionalist
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PROPERTY – BAKER – FALL 1999 – SECTION 4 – page 2 MAJORITY DISSENT J. Tompkins J. Livingston Formalists : reasoning from legal authorities; “judge’s hands are tied”; but they also  have a goal (peace, certainty). Functionalists : reasoning backwards from a societal  goal; flexibility to adapt to times; they also cite authority. Majority ruled v. prevailing 
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This note was uploaded on 08/28/2008 for the course LAW 431 taught by Professor Dzienkowski during the Spring '08 term at University of Texas at Austin.

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PROP_Baker_Fall_2000 - PROPERTY BAKER FALL 1999 SECTION 4...

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