Firstly, let us look at some definitions of property. According to Roman Law, property is basically means that one has the right to use something in which ever way providing that it is within the limits of the law. Black’s Law Dictionary says that, in the strict legal sense, [property is] an aggregate of rights which are guaranteed and protected by the government”

This is another law which is of prime importance and especially so, in countries hailing from a primarily capitalist background. The function of laws on property is to regulate possessions belonging to people and institutions as well. There are different kinds of property as well and these include real property, personal property and so on. Under personal property there are further subdivisions of intellectual property, company law, trusts and commercial law as well. Here you may ask as to what is “real property”? Continue reading →