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The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor's ability to create a trust in the first place; generally speaking, anyone capable of holding property can create a trust. There are exceptions for statutory bodies ...
Property can mostly be owned by any single human. However, many jurisdictions have some stipulations that limit property-owning capacity. The two main limiting factors include citizenship and competency of maintaining property. In many countries, non-citizens cannot own property or are limited greatly in their capacity to own property.
The labor theory of property does not only apply to land itself, but to any application of labor to nature. For example, natural rights thinker Lysander Spooner, [4] says that an apple taken from an unowned tree would become the property of the person who plucked it, as he has labored to acquire it. He says the "only way, in which ["the wealth ...
Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, [2] as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use ...
In his labor theory of property, Locke stated that property is a natural result of labor improving upon nature, and thus by labor expenditure the laborer becomes entitled to its produce. [10] Influenced by the rise of mercantilism , Locke argued that private property was antecedent to and thus independent of government.
For example, English law used to treat married women as lacking the capacity to own property or act independently of their husbands (the last of these rules was repealed by the Domicile and Matrimonial Proceedings Act 1973, which removed the wife's domicile of dependency for those marrying after 1974, so that a husband and wife could have ...
A specific property is the intensive property obtained by dividing an extensive property of a system by its mass. For example, heat capacity is an extensive property of a system. Dividing heat capacity, , by the mass of the system gives the specific heat capacity, , which is an intensive property. When the extensive property is represented by ...
This is also known as a common property resource, impure public good or sometimes erroneously as a common pool resource. [13] A common pool resource however is often managed the group of people that have access to that resource [14]. Examples of this can be air, water, sights, and sounds. Tragedy of the commons refers to this title. An example ...