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Titolo:
The property/contract interface
Autore:
Merrill, TW; Smith, HE;
Indirizzi:
Northwestern Univ, Evanston, IL 60208 USA Northwestern Univ Evanston IL USA 60208 tern Univ, Evanston, IL 60208 USA
Titolo Testata:
COLUMBIA LAW REVIEW
fascicolo: 4, volume: 101, anno: 2001,
pagine: 773 - 852
SICI:
0010-1958(200105)101:4<773:TPI>2.0.ZU;2-4
Fonte:
ISI
Lingua:
ENG
Soggetto:
IMPERFECT INFORMATION; DEFAULT RULES; LEGAL RULES; CONTRACT INTERPRETATION; SECURED TRANSACTIONS; CREDITORS BARGAIN; ECONOMIC-ANALYSIS; PROPERTY-RIGHTS; BANKRUPTCY; LAW;
Tipo documento:
Review
Natura:
Periodico
Settore Disciplinare:
Social & Behavioral Sciences
--discip_BC--
Citazioni:
277
Recensione:
Indirizzi per estratti:
Indirizzo: Merrill, TW Northwestern Univ, Evanston, IL 60208 USA Northwestern Univ Evanston IL USA 60208 vanston, IL 60208 USA
Citazione:
T.W. Merrill e H.E. Smith, "The property/contract interface", COLUMB LAW, 101(4), 2001, pp. 773-852

Abstract

This Article explores the distinction between in personam contract rights and in rem property rights. It presents a functional explanation for why the legal system utilizes these two modalities of rights, grounded in the pattern of information costs associated with each modality. To test this theory, the Article examines four legal institutions that fall along the property/contract interface-bailments, landlord-tenant law security interests, andtrusts-in order to determine how the legal doctrine varies as the underlying situation shifts from in personam, to in rem, to certain relations intermediate between these poles. With respect to each institution, we generallyfind that in personam relations are governed by flexible default rules; inrem relations are governed by bright-line rules that impose immutable and standardized obligations; intermediate relations, as befits their intermediate level of information. costs, feature a type and degree of standardization beyond pure contract but short of pure property.

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Documento generato il 22/01/20 alle ore 09:25:54