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43 UCLA L. Rev. 711 (1995-1996)
The Bundle of Rights Picture of Property

handle is hein.journals/uclalr43 and id is 725 raw text is: THE BUNDLE OF RIGHTS PICTURE OF PROPERTY J.E. Penner* INTRODUCTION ............................................... 712 I. HOHFELD AND HONORt'S CONTRIBUTIONS TO THE BUNDLE OF RIGHTS • 724 A. Hohfeld on Rights In Rem and Property Rights ................... 724 B. Honor6's Contribution ................................... 731 C. The Substantive Bundle of Rights View ....................... 733 D. The Disaggregative Version of the Substantive Bundle of Rights View . ......................................... 734 E. The Conceptual Bundle of Rights View ....................... 737 II. THE SUBSTANTIVE BUNDLE OF RIGHTS VIEW ......................... 739 A. The Bundle of Rights and Tort and Contract ................... 739 B. An Alternative Definition of Property ........................ 742 C. The Social Use of Property and Licenses ....................... 744 D. Alienability of the Property in its Entirety ..................... 746 E. G ifts . ................................................. 750 F. Contracts . ............................................. 752 G. Honor6's Incidents and the Bundle of Rights ................... 754 1. The Right to Possess ................................... 755 2. The Right to Use, the Right to Manage, and the Right to Income ...................................... 756 3. The Right to Capital .................................. 759 4. Honor 's Power to Alienate ............................ 760 5. The Right to Security .................................. 760 6. Transmissibility and Absence of Term ..................... 761 7. The Prohibition of Harmful Use ......................... 761 8. Liability to Execution ................................. 762 9. The Incident of Residuarity ............................. 764 III. THE CONCEPTUAL BUNDLE OF RIGHTS VIEW ...................... 767 A. The Classical View of Concepts .............................. 768 B. The Criterial View of Concepts ............................. 779 * Lecturer in Law, Brunel University. B.Sc. 1985 Western Ontario; LL.B. 1988 Toronto; D.Phil. 1992 Oxon. The views in this paper have had a long genesis, and many people have at one time or another commented upon and provided helpful criticisms of their previous incarna- tions, principally in my Oxford D.Phil. thesis (The Idea of Property in Law, Oxford, 1992) and in a paper presented at the W.G. Hart Workshop at the Institute of Advanced Legal Studies in London in July, 1993. The author is grateful to Timothy Endicott, Strephan Fauble, James Harris, Peter Jaffey, Stephen Munzer, Joseph Raz, Bernard Rudden, Steve Sheppard, Jonathan Sutton, and William Wilson for their comments and criticisms. Responsibility for the infelici- tous, unfounded, and fallacious remains with the author.