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, Redeveiopment Act of 1945 stipulated thata local governmental agency had the power domain to eliminate any "blighting factors or causes of...

Q11 (2).jpgQ11 (1).jpgQ10 (2) .jpgQ 10 (1).jpg2 Law and Economics questions! Need at least 90% correct rate!! Due within 24

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, Redeveiopment Act of 1945 stipulated thata local governmental agency had the power
domain to eliminate any "blighting factors or causes of blight.” When land was seized by the
tspower of eminent domain, slums were to be cleared, and affordable (as well as modern) gwas to be built in Its place. Berman owned a department store in a blighted area, and was
existed the possibility that his department store was going to be seized to make room for new,
‘ Suppose the fair-market value of Berman’s department store Is $5,000,000, and he re , a 75% chance that his store will be seized by the local governmental agency. He is to. im’prOVe "the look" of his store by Installing energy-efficient white lights. ergonomic knot repainting the exterior with a soft, consumer-friendly color. Suppose the cost of these ‘ ated to be $100,000, but by Investing in these improvements, Barman would increase the
Itrnent store from $5,000,000 to $5,200,000. Finally, suppose that in the event Berman’s seized, ‘the store would be demolished, and the resulting affordable housing complex would
to the area of $50,000,000. -ers - ctlve, should Berman invest in improving his department store? (Enter "Yes" or "No“y pose hat compensation for a taking eguals f_air market value. Will Berman invest in improving his ‘ -

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shed, and the resultlng affordable hpuslh bliml 1 n for aztakinf e'ijuals zero (0). Will Berman invest in improving his; eye campxensatlon may lead to too many taklngs by the agencijdhat level 61“ Amatboth Berman's Investment and the 3 en 5 declslon ofwhetherf axe;
be Effl'clent? (Enter a whole number.) & ' ‘ Wslhess of mlnlng, smelting,- and selllng mineralée '
pd farmland areas that have net {J let:
u mmlslng,‘ Beta’s geologlsts fly ever the ”an
net anomalies In the earth below. A magnetl

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is in the business of mining. smelting. and selling minerals. Beta's geologists identify
lands and farmland areas that have not previously been thought to contain minerals.
‘ seems promising Beta's geologists fly over the land with a drone equipped with
magnetic anomalies in the earth below. A magnetic anomaly Is a sign of mineralization.
‘ caused by minerals that have no commercial value, or by are that cannot be
because the ore body is not rich enough toJustify the costs of mining it. if Beta's geologists
maly on farmland. Beta purchases the relevant farm at the market farmland price and then
' ng. Usually, this drilling flnds only noncommercial or non-mineabie minerals (in which .
1nd at the market farmland price), but periodically Beta finds a rnlneabie body of ore. Beta's
easy is one-of-a-kind, and accordingly. Beta is the only economic agent that can detect hidden ‘
effa’nfiiand.
Sisfind an extremely promising magnetic anomaly under Farmer Adam's farm, and Beta
arewith Adam. During these negotiations, Farmer Adam asks Beta's CEO, "Is there anythi
Wyau want to purchase my farmland?" Beta's CEO nervously adjusts his top hatand giggles
not disclose to Adam the existence or significance of the magnetic anomaly beneath his land.
.y‘ees to sell Beta his farmland at the market price of $50,000, which is the typical price for
me, However, had the magnetic anomaiy been known to Farmer Adam. the land would have,
' - more; In particular, it would have been worth $250,000. Beta's exploratory drilling are that can be mined for profit below the surface of Adam's former property. Leamlng of’thk
‘: mega to rescind (lnvaiidate) the contract for the farmland. :r-[u' regarding the mineralization of FarmerAdam’s formerfarmi nd urel distribu ’ j
variable? (Enter "purely distributive“ or "socially valuable")? I I iregardlng'the mineralization of Farmer Adam's former farmland deliberatei , VI
i "deliberately“ or "casually")

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--. s ormer arman- ur- - s rsu‘“ o‘
be: “purely distributive" or "socially vaiua hie")? ing the mineralization of Farmer Adam‘s former farmland deliberately or casually . 1. r‘deiiberately" or "casually") E ' of the mistake doctrine, who should win this case? (Enter "Adam" or "Beta") ' tonciude that the mistake was unilateral or mutual? (Enter "unilateral" or "mutual“); .cal government is worried that Beta's exploratory drilling will have an adverse effect on
and neighboring landowners. indeed. exploratory drilling requires small-scale infrastrum:
_ . _ like the creation of roads. and sometimes degradation of the environment can occur
fiestafiopmanr. in addition to the exploratory drilling process itself, can disturb native speciesa
mm government decides to pass a regulation that prohibits exploratory drilling ona'll l regulation is passed prior to Beta's exploratory drilling. but a'fijer B'eta h " Manfs farmland for $50,000. Should this re ulatlon constitute
domino? (Enter "Yes" or “No'? C—‘j—j

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