Economics 3366A/B Quiz: Ownership as the starting point for the study of other property rights

• School: Western University
• Department: Economics
• Course: Economics 3366A/B
• Professor: Tai-Yeong

Document Summary

Mixed: land: common law estate passes when deed is registered, delivery system, land: equity buyer becomes immediate owner, consensual system, moveable property (goods): become immediate owner unless agreed otherwise, consensual transfer system. Abstract (indirect connection: you should be owner, seller must make the buyer because someone sold it to the owner you. I might need to give it back, but i am owner until i give it back: austria and netherlands. If ownership does not go back: abstract: all systems look for a balance between original owner and third party in good faith. Correct mechanisms: causal systems: third party relationships problem, a sells to b: b becomes immediate owner, b sells to c: c becomes immediate owner. If sales agreement is invalid, 3rd party remains owner until they transfer object back: system protects third party, not original owner. German law: must look at reason why sales agreement is invalid.