AlI laws concerning property rights are based upon the broad - doctrine that every person who owns property may dispose of the same as he sees fit. The right of disposal of property is inseparably united to the right of property itself, and indeed is an essential element of the concept of property. It might even serve as a definition of property, viewing property as that which one may dispose of,-a definition too general, it is true, for practical purposes, but undoubtedly a correct and valuable metaphysical theorem
Sunderland, Edson R. "Foreign Voluntary Assignments for the Benefit of Creditors." Mich. L. Rev. 2 (1903): 112-126, 180-189.