The Nature of Existence and Tangible Property
Things that have an actual existence are those that are mandatory for the senses and the mind. This includes tangible things such as solids, liquids, and vapors.
Understanding Personal Wealth and Heritage
From the concept of personal wealth, we postulate that people have only heritage. Wealth is considered an attribute of personality and is composed of all heritage assets, which include:
- Assets and rights (positive value)
- Liabilities (loads or obligations)
When Livestock Becomes Real Estate
Herds, flocks, and other livestock (both tame and wild) are classified as real estate when they are not separated from their pastures and farms.
Classification of Assets: Divisible and Indivisible
The difference between...