The Numerus Clausus Principle and the Emergence of New Property Forms
Yun-chien Chang is research professor at the Academia Sinica in Taipei (Taiwan), a renowned law and economics scholar and internationally known for his comparative work on property. Regulation of the rights in rem is different from regulation of contractual rights. Especially the numerus clausus of such rights, which excludes their establishment through autonomous decisions of individuals or groups is a pervasive international feature, which however differs across countries.
Chang deals with the contemporary function of this principle and advances a more general theory of optimal standardization to explain the numerus clausus principle for rights in rem in both the common law and the civil law. He also points out that the numerus clausus principle and property customs both involve an "informational trade-off" —extensiveness of the audience and intensiveness of the conveyed message. He makes propositions for a better and more flexible regulation of such rights, which preserves the rationale of regulation but does not block the emergence of new forms of property.Zurück
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