PS3_answers - Legal Studies 145 - Law and Economics I...

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Legal Studies 145 - Law and Economics I Answers to P ROBLEM S ET #3 1. We may view the entitlement and protection of that entitlement in Spur in two ways. First, we might say that the feedlot owner has the "right" to operate but that right is only weakly protected; residential owners have an option to purchase the right as a court- fixed price, thereby closing down the feedlot. This understanding of the entitlement conforms to the traditional understanding of entitlements such as that in Boomer, where the cement company had an option to purchase the plaintiff's right at a court-fixed price. Alternatively, one might say that the developer had the right to locate next to the feedlot and to close it down conditional on its willingness to pay the court-fixed price. Phrased this way, the entitlement seems odd. But note that we could phrase the entitlement in Boomer analogously. The cement company had the right to pollute conditional on its willingness to pay the court-fixed damages. 2.
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This homework help was uploaded on 04/16/2008 for the course LEGALST 145 taught by Professor Rubenfield during the Spring '08 term at University of California, Berkeley.

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PS3_answers - Legal Studies 145 - Law and Economics I...

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