Constructive delivery
| Constructive delivery |
|---|
| See also |
Constructive delivery (called also symbolic delivery[1]) is substitute (or is an equivalent) of real delivery.
It is term used when the item was not supplied itself but the symbol or sign of it is delivered. Constructive delivery gives the mean of acquiring future ownership. It is the intention of transferring ownership, but it has not yet happened from legal perspective[2].
It is happening usually is case of handling over the property, possession or ownership, for example key to the house or title deeds of property[3].
From Latin, the whole procedure is called traditio longa manu which means delivery by extended hand (the opposite traditio brevi manu, delivery by short hand used for actual delivery). Future owner acceptance of constructive delivery is required[4].
Real (actual, physical, manual) delivery is an opposed term to constructive delivery[5].
Why physical delivery is not done
Physical delivery is not possible, impractisable or cannot be completed due to difficulties or special circumstances that exist at the moment. Once they will be solved, physical delivery might be completed[6][7].
Where constructive delivery is used
Constructive delivery is especially used in transactions of below[8][9][10][11]:
- hire,
- loan,
- usufruct,
- mandate,
- deposit,
- stocks,
- donation,
- bonds,
- title,
- certificate,
- insurance policies,
- contracts,
- cryptocurrency.
Footnotes
- ↑ Smith J. C., (2018)
- ↑ Kochan D. J., Massey C. R., (2018), p. 32
- ↑ Melville R. D., (1915), p. 222 - 223
- ↑ Smith J. C., (2018)
- ↑ Melville R. D., (1915), p. 222 - 223
- ↑ Miller R. L., Jentz G. A., (2010) p. 666
- ↑ Dukeminier J., Krier J. E., Alexander G. S., Schill M., Strahilevitz L. J., (2017)
- ↑ Melville R. D., (1915), p. 222 - 223
- ↑ Miller R. L., Jentz G. A., (2010) p. 666
- ↑ Smith J. C., (2018)
- ↑ Chambers L. (2016)
References
- Anderson C., (2015), Delivery of goods in the custody of a third party: operation and basis in "Edinburgh Law Review, 19 (2)"
- Chambers L. (2016), 'The keepers of the keys: remedies and legal obligations following misappropriations of cryptocurrency in "Butterworths Journal of International Banking and Financial Law"
- Dukeminier J., Krier J. E., Alexander G. S., Schill M., Strahilevitz L. J., (2017), Property: Concise Edition. Aspen Casebook Series, Wolters Kluwer Law & Business
- Kochan D. J., Massey C. R., (2018), Emanuel Law Outlines for Property Keyed to Dukeminier, Krier, Alexander, Schill, Strahilevitz Emanuel Law Outlines, Wolters Kluwer Law & Business
- McCormack C., Taylor M. J., (2006), Electronic delivery of oral feedback on graphic design projects, in "Proceedings of the 23rd annual ascilite conference: Who’s learning? Whose technology?"
- Melville R. D., (1915),A manual of the principles of Roman law relating to persons, property, and obligations, W. Green and Son Limited Law Publishers
- Miller R. L., Jentz G. A., (2010). Business Law Today: The Essentials, Cengage Advantage Books
- Requirement of Delivery in Gifts of Personalty - Schenker v. Moodhel, 3, (1939), in "Maryland Law Review Volume 3 Issue 3 Article 9"
- Smith J. C., (2018), Glannon Guide to Property: Learning Property Through Multiple Choice Questions and Analysis. Glannon Guides, Wolters Kluwer Law & Business, 2018
Author: Anna Piechnik
