derivative acquisition Flashcards
what is derivative acquisition?
the transfer of ownership from one person to another
what are two different types of derivative acquisition
formal conveyance (mancipatio)
informal conveyance (traditio)
what is formal conveyance
the transfer of ownership must be accompanied by some ceremony, more commonly a public act. In case of land, registration in a public register.
in terms of formal conveyance, why is there a need for such a formal ceremony in order to effect a transfer of ownership?
The publicity principle, in roman law, says that the transfer of ownership of things should be done openly and publicly so that everyone is aware of exactly who owns it.
what is informal conveyance?
also known as traditio or delivery. Is the required delivery of the object to be transferred coupled with the intention of the parties to transfer it
what are the conditions needed to be met to carry out informal conveyance
- the thing to be transferred has to be capable of transfer and acquisition by delivery
- transferor had to have power to give ownership and transferee had to have capacity to receive it
- the transferor had to intend to transfer ownership, and transferee had to intend to recieve ownership
- none could give what they cant have
- had to be physical transfer of possession or something seen ass the equivalent
what is the latin phrase for you cannot give what you do not have
nemo dat quod non habet
what are the four types of traditio
- traditio brevi manu
- constitutum possessorium
- traditio longa manu
- symbolical delivery
what is traditio brevi manu
the act of transferring ownership to a person who is already in possession of the item. For example, the watch maker.
what is constitutum possessorium
the opposite of traditio brevi manu.
The change of ownership to another where the original owner remains in possession of the item for a certain period of time whilst acknowledging the rights of the new owner
what is traditio longa manu
the act of delivery of possession by being put in sight of the object (for example land) and pointing out its boundaries. The reciever does not have object on possession
what is symbolical delivery
the act of transfering ownership by the use of symbol, for example handing over keys. There had to have been a transfer of effective and physical control
what is causal or abstract transfer
when one party intend gift and the other intends sale. A bad contract would not prevent a good conveyance from following
