After Laura Linde LLM ’17 earned an undergraduate diploma at Freie University Berlin, she wished to proceed her authorized schooling overseas. But she didn’t simply want to research extra law; she needed to apply it.
Their ‘abstraction principle’ (Abstraktionsprinzip) implies that the non-public obligation of contract forms individually from the title of property being conferred. When contracts are invalidated for some cause (e.g. a car purchaser is so drunk that he lacks legal capability to contract) the contractual obligation to pay can be invalidated individually from the proprietary title of the automobile.
A People’s History of the European Court of Human Rights. “The Globalization of Legal Education within the United States”. In Drolshammer, Jens I.; Pfeifer, Michael (eds.). The Internationalization of the Practice of Law. Rational people trade through bilateral contracts on open markets until the costs of transactions mean that using corporations to provide issues is less expensive.
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In France, an odd contract is alleged to form simply on the idea of a “meeting of the minds” or a “concurrence of wills”. Germany has a special approach to contracts, which ties into property law.
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Philosophy Of Law
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Coase used the example of a nuisance case named Sturges v Bridgman, the place a noisy sweetmaker and a quiet doctor have been neighbours and went to court to see who should have to move. Only the existence of transaction costs could stop this.