First Principles of Business Law

8.1. Acquisitions and dispositions of property by an agent

8.1. 'Real' and 'personal' rights distinguished

Legal rights that exist in relation to property (land or goods), for example the rights known as ownership and possession, are called 'real' rights.  This is because the legal rights exist in relation to a thing, and in Latin the word for thing is 'res'.

Real rights are distinguished from legal rights that exist between persons, such as contractual rights, which are called 'personal' rights.

The examples in this section illustrate some of the questions that arise in relation to the acquisition or disposition of real rights by an agent.