Property Rules, Liability Rules and Inalienability Term Paper

Property Rules, Liability Rules and Inalienability - Term Paper Example The interpretation of some property laws however varies in different countries, but all work to promote order and coexistence of people in the societies. The society subject to the law have therefore an obligation to act in accordance to the property law, failure to which, they are indebted to the law as a liability for failing to comply to the legal expectation. Unlike the property rule, where the consent of the owners of the property is required for transfer of property, the liability rule is interfered by the legal system, who determine the cost incurred as the obligation to fulfill on the part of the liable person (â€Å"Property rule† 1- 4). The inalienability rule acts differently by preventing transfer of entitlements to protect and even regulate the activities of granting the property. It puts aside the parties involved (willing buyer and seller), and allow the government by authority to intervene the next actions (whether to stop the transfer, plan for compensation, o r determine ownership among others) depending on the investigation outcomes of the dispute. 2. Property Rules 2.1. Ownership Ownership of properties by the people receives varying degrees of protection from the legal government society. Whatever an individual, group, or community owns is prevented from the harassment and destruction that may be carried out by the excluded parties, so that the owners can freely enjoy their legal rights. Properties are lawfully recognized as a right that an individual or group has over an ownership of things, which they can use and can exclude others; it is divided into two, real (rights to land and anything attached to it) and personal property (chattels and intangible personal property as other possessions apart from land) (â€Å"LexisNexis† 2). Property rule emphasizes on the protection of an entitlement for an individual or persons, which they deserve with a property right. Since property entails a bundle of rights, the law itself protects the owner, so that he can exercise his rights over his property (rights to possess, use, transfer and pass on, transform and even block others from interference). â€Å"A property rule implies the prohibition on the invasion and a right to enjoin offenders† (Bergkamp 210). This possibly means that in a dispute where one violates the property rule, the offended can obtain a legal plea for a restoration. 2.2. Transfer Ownership is recognized as the primary right from which all the other rights attached to the property may be derived. Possession of the property refers to any object, whether tangible or intangible; this is however different in Dutch and German law that limit ownership of tangible objects (Bouckaert 34). Today software, systems, published work, stock, bonds and tangible assets (buildings, machines, and estates) can be owned as private properties. Take an example that P intends to use Q’s track against her wish. Q’s track being protected by the law, Q can prevent P from executing the illegal intension via a court order that forbids P’s action as the first protection measure. If P ignores the legal order and uses the Q’s property (as a violation of her right), P is issued with an order for restitution by the court. Suppose the restoration of the property is impossible to achieve (probably because it was destroyed while in P’s hands), then compensation to the owner (Q) is made through money damages determined by the court, which the Q has no option but

Research Proposal Assignment Example | Topics and Well Written Essays - 1000 words

Research Proposal - Assignment Example 4-5). This means that HR has broadened its function from the administrative work to the payroll processing, training and development and various others. This has led the managers and supervisors think about how to utilize maximally the employees with their competence that can significantly contribute to the accomplishment and flourishing of the overall enterprise (Mathis  & Jackson, 2011, pp. 1-3). Therefore, the hypothesis statement with respect to this research proposal is "The effect of HR management on the success of organization", since it is one of the most imperative aspects to measure. Brief Literature Review The human capital for any organization is the amalgamation of the skills set that they have attained from the duties and responsibilities, their attitudes, knowledge, training and experience (past and current) that sets the value of the employee within the marketplace. Therefore, the human management is not only a function, as the role of workforce has become vital in the contemporary times that add the competitive advantage for the enterprise. This has come under numerous research and investigations (Sims, 2002, pp. 2-5). According to one of the empirical studies, it has come to notice that those organizations have been more successful and thriving that value their employees (HR), in contrast to the enterprises, which have not given much importance to their employees and have considered them of negligible worth. This is because when the employees feel that their participation and involvement towards a particular task is being recognized, the level of motivation amongst the employees boost, thus they tend to be more productive and efficient in producing the outputs, which facilitates in accomplishment of the company goals and missions (Sims, 2002, pp. 2-5). In fact, few of the research studies have concluded that the organizations that are generating more profits practice various universal things that include providing job security to the employe es, having active participation from the workers, involving them in self-managed teams, training and educating the new and current staff. Creating a collective organizational culture, sharing of sufficient company information with the members are also few of the aspects that the successful organization practice as their routine procedures (Pynes, 2009, pp. 23-26). Studies also indicate that the traditional role that the HR personnel enlightened was the acquiescence and fulfillment of the rules set by the organizational executives, where they kept the tracking of the records of the employees through simple matrices such as number of hired workforce, number of training hours completed by the employees and so forth. However, this traditional role of HR transformed and now they have a broader vision and focus on outcomes and results of the employees and not just figures and compliance, which have come under evidence in the current researches. Indeed, investigations indicate that HR prof essionals also pursue the employees’ skills sets that they are using to the achievement of the company goals that can provide success and benefit to the overall organization and to their own personalities as well (Storey, 2008, pp. 153-156). To put it in nutshell, the organizations