* Acre = 43,560 sq feet (10 sq chains) * 4 rods = 1 chain = 66ft * In Western states, a person must obtain a usage right separate from the ownership of the land * To acquire a water right, one must: 1. Divert the water from the river 2. Apply it to a beneficial use a. Policy: because water is scarce b. Actual pattern of beneficial use is what you are limited to regardless of paper rights until then, you’re merely preparing it * Wildlife must be acquired separately * If you capture an animal, it is yours until it escapes and get backs into its natural habitat
1) First-in-time – the first person to claim it, has property rights to it a) Pierson v. Post – Pursuit alone not enough; Occupancy is for sure ok; Mortal wounding probably ok; Traps probably ok i) Post was in pursuit of a fox ii) Pierson killed the fox and carried it off, aware that the fox was being hunted iii) General Rule: property of animals ferae naturae is acquired by occupancy only (1) Occupancy: “The actual corporeal possession of them.” iv) "[A]ctual bodily seizure is not indispensable to acquire right to, or possession of, wild beasts; but that, on the contrary, the mortal wounding of such beasts, by one not abandoning his pursuit, may, with the utmost propriety, be deemed possession of him; since thereby, the pursuer manifests an unequivocal intention of appropriating the animal to his individual use." v) “Also encompassing and securing such animals with nets and toils, or otherwise intercepting them in such a manner as to deprive them of their natural liberty, and render escape impossible, may justly be deemed to give possession of them to those persons who by their industry and labour have used such means of apprehending them.” vi) Easy application of a rule clear and certain (2) Minimizes unnecessary litigation vii) Dissent: [Counterintuitive] Livingston criticizes majority for not thinking like sportsmen – interruption of the hunt (sporting argument); and foxes need to die (killing argument) = don’t mesh because he claims people will stop hunting, which only works for the sporting argument b) Leisner v. Wanie – Mortal wounding; Pursuit/intent to capture; Animal basically down = Property Rights viii) Wanie mortally wounded wolf and it was almost in his possession ix) Leisner came upon it in a hole and killed it x) "The instant a wild animal is brought under the control of a person so that actual possession is practically inevitable, a vested property interest in it accrues which cannot be divested by another's intervening and killing it" xi) Don’t want to discourage hunting c) Buster – Serious wounding and overnight delay = no ownership xii) Compare to Haslem and the 24 hour seaweed grace period. d) Dapson v. Daily – No license = no property; Deer not reduced to inevitable capture = also not good xiii) P shot deer, unclear as to whether it went down, but galloped away xiv) D shot the deer, carried it away xv) P wasn’t licensed to hunt and therefore cannot claim the rights of a huntsman xvi) evidence does not establish that the animal "was so wounded by the plaintiff that it was about to be deprived of its natural liberty." e) State v. Shaw – Fish in trap = property of trap setter xvii) Dude had a boat with a net, fish could get out of net xviii) D took some of the fish from the net xix) Because escape was practically impossible, fish were owned by owner of net (3) “To acquire property rights in animals ferae naturae, the pursuer must bring them into his power and control, and so maintain his control as to show that he does not intend to abandon them again to the world at large.”
In a well-known legal case, a classic conflict of property rights was featured. Red cedar trees, used only for ornamental purposes, carried a disease that could destroy apple orchards within a radius of two miles. There was no known way of curing the disease except by destroying the cedar trees or by ensuring that apple orchards were at least two miles away from the cedar trees. Apply the Coase theorem to this situation. Does it make any difference to the outcome whether the cedar tree owners are…
Employment Law, Aliens, and Property Rights Employment law is designed to equilibrate the power balance between employers and employees. Employment law deals with what the relation between responsibilities and freedoms and employers and employee. This law also sets and defines the limits and restrictions to both parties. The law is meant to be fair and protect both employer and employees' rights. The first of the following articles talks about protecting the employer's rights over the work and development…
The aim of this paper is to understand the effects of moving an economy from a centrally planned economy to a market system using as an example the Property Right Security in Russia. To do that this student will assess the impact of deprivatization on managers and its impact in foreign investment in the country. Moreover, this student will provide a comment regarding the long-term effects of deprivatization, winners, and losers of these actions, as well as the effects of this deprivatization on…
MASTER OF MANAGEMENT AND PROFESSIONAL ACCOUNTING MGT 1210 ASSIGNMENT #1 SUMMER 2013 Prof. V. Aivazian QUESTION 1 a) His cost of playing golf is not $10 per week. We need to add the opportunity cost, which is 30*3*4=360. And the total cost is 370. b) One alternative brings 360 and the other brings 100. The higher one is the opportunity cost. The total cost is still 370. c) Future potential benefit does not change the current cost, which is 500. So the cost of purchase is 500…
Property Law Definition: Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights and obligations…
Intellectual Property Ownership describes one interest in property Ownership and possession separated “real property” refers to land and things permanently attached to the land, such as buildings Fixed and immovable Personal Property: movable and divided into two categories Chattels (or goods): tangible personal property, consisting of movable, can be weighed and measured Intellectual property: intangible, such as right to claim one person has right against another (chosen in action= right to sue)…
- Real property: legal interests associated with ownership of the physical real estate - Personal property: all other movable property like cars, furniture, and clothing (also known as Chattel) - Real estate: property in land and buildings (consists of physical land and structures) - Economic Characteristics of RE: - Fixed location - Uniqueness - Interdependence of land uses - Long life - Long-term commitments - Large transactions - Long gestation period - Land use depends greatly on 1) provision…
Intellectual Property Law and Security Measures Percy A. Grisby II Computer Ethics February 20, 2015 Professor Sonya M. Dennis Intellectual Property Law Intellectual Property Law provides certain protections and rights for property owners. A wide body Property that is a result of the mental labor fruits is referred to as the intellectual property (Davis, 2008). The intellectual law is comprised of various laws, for example, trademarks, copyright, and patent laws. Each of the laws is applied…
coparcenary. This right was fluctuated according the circumstances, meaning to say the share diminishes when anybody in the family takes birth and diminishes when any male member of the family dies. This school also provides the inheritance by succession but only to the property separately owned by an individual male or female. The females are included as heirs to this kind of property by Mitakshara Law. On the other hand, Dayabhaga Law advocates for succession rather than survivorship as a rule…
* Real property: land and everything attached * Personal property (chattel): items that can be moved * Tangible: television * Intangible: stocks and bonds * States asses taxes on real property * Businesses pay taxes on personal property * Vegetation that is removed becomes personal property; annual crops are always personal property * Minerals are always real property until removed/ extracted * Personal property that is attached, and can easily be removed…