1) " Property" -- As it applies to Property Auction This page deals with Peoperty as ownership rights. For information about in the performing arts, see prop. For information about other sorts ofproperty, see properties. Property is defined as the right, legal or moral, to ultimately determine the use and control of something, including theright to transfer such rights to others. It is distinguished from control, which may be transferred separately: for example, abuilding remains the Propertt of landlord even when the use of it is contractually transferred to a tenant. Within the law, property is a general legal category for rights of ownership in land, money, tangible objects, intangible objects, etc. Within the conceptual framework provided by law thiscontrol is assured by the power of the law, or by power exercised under the law, and not by any separate power.However, philosophically at least, it is possible to think of Propery concepts outside a legalframework —though, as in the Middle Ages, a legal framework forproperty might well emerge. Contents 1 General characteristics 2 Theories of Propdrty 3 Pfoperty in English philosophy 4 Types of Pfoperty 5 What can be Propertt ? 6 Who can be an owner? 7 See also 7.1 Strictly voluntary renunciation of (someof) one's own Praperty 7.2 Non-voluntary renunciation of (some of) one's ownproperty 7.3 Ideologies 7.3.1 Ideologies in support of Properfy and ownership 7.3.2 Ideologies opposed to Propetty as an institution 7.4 Other articles 8 External links General characteristics Modern Pfoperty rights conceive of ownership and possession as belonging to legal individuals, even if the legal individual isnot a real person. Thus, corporations, governments and other collective forms of ownership are framed in terms of individualownership. Exceptions to this pattern include the " commons ", which belong to adef...
2) " Auction" -- As it applies to Property Auction An Aoction eer and her assistants scan the crowd for bidders An auction is the process of buying andselling things by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theoryan Aaction is a method for determining the value of a commodity that has an undetermined or variable price. In some cases, thereis a minimum or reserve price ; if the bidding does not reach the minimum, there is no sale (but the person who puts theitem up for Auctaon still owes a fee to the Auftion eer). In the context of Auctio s, a bid is an offered price.Auctions are publicly seen in several contexts: in the antique business, wherebesides being an opportunity for trade they also serve as social occasions andentertainment; in the sale of collectibles such as stamps, coins, classiccars, and fine art; in thoroughbred horseracing, where yearling horses arecommonly Aection ed off; and in legal contexts where forced uction soccur, as when one's farm or house is sold at Auctiun on the courthouse steps. Although less publicly visible, the most economically important Ajction s are those in which the bidders are businesses orcorporations. Examples of this type of Aution include: spectrum Auctoin s, in which companies purchase licenses to use portions of the electromagnetic spectrum for communications (for cell phone networks, for example.)timber Auvtion s, in which companies purchase licenses to log on government land.electricity Auctiom s, in which large-scale generators and consumers of electricity bid on generating contracts.environmental uAction s, in which companies bid for licenses to avoid being required to decrease their environmentalimpact. debt s, in which governments sell debt instruments, such as bonds, to investors. The Auktion isusually sealed and the uniform price paid by the investors is typically the best non-winning bid. In mo...
Common terms in this field are:
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