Isn't that a bit directive, considering I've been here all of five minutes and it's not exactly a voluntary transaction?
An entitlement protected by a liability rule, however, involves a collective decision as to the value of the entitlement without the need for a voluntary transaction.
This rule should be applied to rectify both voluntary and involuntary transactions.
Additionally, economic freedom is important, since any "bi-laterally voluntary and informed" transaction must benefit both parties to the transaction.
CWT acquires decreed water rights through voluntary transactions to benefit aquatic ecosystems.
(B) The remaining one is the rectificatory, which arises in connexion with transactions both voluntary and involuntary.
Taxation of the rich to support social programs for the poor are unjust because the state is acquiring money by force instead of through a voluntary transaction.
The transfer of property cannot be a voluntary transaction.
They explain that voluntary (non-coerced) transactions always have a property called pareto efficiency.
It also posts price and volume information on its voluntary transactions.