Property Protection and limits (chap 5) Flashcards
what is trespass?
it is the invasion of someone else’property by entering without the owner’s consent, remaining there against the owner’ wishes or without legal authorization to be there
it may be intentional or unintentional
what is nausance?
It refers to the use of property in a way that causes damages or annoyance to others without physical invasion.
private nuisances: impediments to use of land
public nuisance: impediment with the public at large
what is strict liability?
it is to be deemed liable regardless of intention .
Include product liability, manufacturers are forced to exercise care since they will strictly liable in case of a damaged product.
strict liability applies to extraordinary dangerous activities.
The disadvantage is that it reduces the level of care of individual normally would take.
Negligence
it is determine by fault.
A party I only liable if they did not exercise enough care
disadvantage: duplication of precautonary measures (additional cost and reducing social welfare) - Cereis paribus , other things being equal
remedies for violation of prroperty rigths
a property rule: Injuction
a liability rule: monetary damages
property rule: Injuction
with property rrules, the injuctiono is a way of sending the parties back to the bargaining table.
legal and equitable remedy in the form of a special court order that compels a party to do or refrain from specific acts.
liability rule: monetary damages
the court play an important role of price maker in that they award monetary damages in the amount they believe is an objective market valuation.
what is inalienable rigths ?
they are rigths which cannot be transferred.
government often passlegislation prohibiting the allocation or use of private property in the interest of social welfare. (act as the ultimate owner, but it not necessarily right- as intermediary)
what private nuisance law do?
it will interfere with a person use, enjoyment and comfort in their land, whereas a public nuisance interferes with rights and interests shared by the public
what is a covenants ?
it is a private agreement that limitis the way in which an entitlement to property can be used.
it can exist for decades and with change of ownership
it usually aimed to preserve the look or function or maintaining value.
what is zoning ?
it refers to laws seetting limitis oon how people can use their property.
all levels of government use zoning laws to preserve areas, shape development or look of community.
what is expropiation/eminent domain?
it refers to regulatory takings of private land by the government for public use, with or without the consent of the property owner.
the taking msuh have social welfare implications and property owners must receive a just compensation.
