Natural resources such as carbon, water, and fish are increasingly managed with markets that require an initial allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be allocated any number of ways. Taking the perspective of...

This Article offers a new theory of contractual obligation, one which remedies the weaknesses of prior autonomy-based contract theories. Contracts should be understood as transfers of property in a promisor's future actions. Understanding contracts as transfers allows for a theory of contract...

Grotius and Von Savigny made a strict distinction between property law interests and contract law interests. This distinction still influences current European law systems, both continental and Anglo-Saxon. The Draft Common Frame of Reference (“DCFR”) also seems to build on the same...