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The Law, by Bastiat
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"Timid men prefer the calm of despotism to the tempestuous sea of liberty."

--- Thomas Jefferson


Lesson 45 - Property Boundaries Part II Print E-mail

Boundary is a characteristic equally essential to any property as the characteristic of percieved value.

Property by its nature is not only subject to exclusive ownership, every property is also limited in extent.

The limits of property are essential for the clear identification of that property, and the extent of control by an owner.

The boundary to every property tells us what is owned by the owner.  It also tells us what is NOT owned.  As the owner of a property, you own up to the boundary - you do not own beyond it.

If an item is property, it is subject to the rule of boundary.  If no way exists (at least at the moment) whereby the boundary of the property can be accurately described, then the item is not property and is not subject to ownership.

This may not prevent, with improved technology, a way of discerning a boundary to a property in the future.  However until such a boundary can be found, described, and accuratey determined then the item under question cannot be owned, and cannot be properly considered to be "property".

Clearly, when we are dealing with three-dimensional items, boundary is rather easily found or created.

It is in the area of intangibles that a boundary may be difficult to find or for the present time, impossible to locate.

 



 
 

Fundamentals of Liberty