Property right in the context of Erga omnes


Property right in the context of Erga omnes

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⭐ Core Definition: Property right

The right to property, or the right to own property (cf. ownership), is often classified as a human right for natural persons regarding their private property. The Fourth Amendment to the United States Constitution is credited as a significant precedent for the legal protection of individual property rights.

A right to property is specified in Article 17 of the 1948 Universal Declaration of Human Rights, but it is not recognised in the 1966 International Covenant on Civil and Political Rights or in the 1966 International Covenant on Economic, Social and Cultural Rights. The 1950 European Convention on Human Rights acknowledges a right for a natural or legal person to "peaceful enjoyment of his possessions", subject to the "general interest or to secure the payment of taxes."

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👉 Property right in the context of Erga omnes

In legal terminology, erga omnes rights or obligations are owed toward all. Erga omnes is a Latin phrase which means "towards all" or "towards everyone". For instance, a property right is an erga omnes entitlement and therefore enforceable against anybody infringing that right.

An erga omnes right can be distinguished from a right based on contract, which is unenforceable except against the contracting party.

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Property right in the context of Free-rider problem

In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources do not pay for them or under-pay. Free riders may overuse common pool resources by not paying for them, neither directly through fees or tolls, nor indirectly through taxes. Consequently, the common pool resource may be under-produced, overused, or degraded. Additionally, despite evidence that people tend to be cooperative by nature (a prosocial behaviour), the presence of free-riders has been shown to cause cooperation to deteriorate, perpetuating the free-rider problem.

In social science, the free-rider problem is the question of how to limit free riding and its negative effects in these situations, such as the free-rider problem of when property rights are not clearly defined and imposed. The free-rider problem is common with public goods which are non-excludable and non-rivalrous. The non-excludability and non-rivalry of public goods results in there being little incentive for consumers to contribute to a collective resource as they enjoy its benefits.

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