Classification of Property

Question 1

“THINGS”

Answer 1

Generally, understood to be any object that exist and capable of satisfying human need.

Question 2

“PROPERTY”

Answer 2

Refers to anything which is already the object of appropriation or is found in the possession of man.

*Must be susceptible of appropriation

Question 3

Requisites of PROPERTY? (USA)

Answer 3

1) Utility
2) Substantivity/ Individuality
3) Appropriability

Question 4

“UTILITY”

Answer 4

The capacity to satisfy some human wants;

This utility which is generally economic endows property wtih value susceptible of pecuniary estimations.

Question 5

SUBSTANTIVITY/ INDIVIDUALITY

Answer 5

The quality of having existence apart from any other thing.

Question 6

APPROPRIABILITY

Answer 6

The susceptibility of being possessed by men.

Question 7

REAL RIGHTS

Answer 7

Rights or interest belonging to a person over a specific thing without a definite subject against whom such right may be personally enforced.

Question 8

Personal Rights

Answer 8

Right or power of a person to demand from another, as a definite passive subject, the fulfillment of the latter’s obligation.