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Describe the difference between a property rule and a liability rule? What legal enforcement mechanism is most appropriate for either one?
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- Compare and contrast the Equity Theory vs. the Attribution Theory.Explain the concept of restrictive covenants. When and why do they apply?Kara owns a house and lot. She sent letter to Yna and offered it for sale. Two days after receipt, Yna sent a letter to Kara accepting the offer. But when the letter of acceptance reached Kara's residence, she was already dead. Was there a meeting of the minds? Why?Explain with legal basis from the Philippine Civil Code.
- According to a recent study, people in Missouri were 4 times more likely to file bankruptcy compared to people in South Carolina. What could be reasonable causes for the difference between these States?Distinguish among the four perspectives on corporatesocial responsibilityWhat are the benefits of clearly established property rights? Group of answer choices Responsible parties are identified and it helps increase negative externalities. Business are incentivized to comply with regulations. Responsible parties are identified and it helps reduce negative externalities.
- How does the tort of conversion of personal property differ from trespass to personal property? In conversion, the true owner is denied use and enjoyment of the property. In conversion, the true owner can recover damages for the denial of use of the property. In conversion, the tortfeasor treats the property as if it is his/her own. In conversion, the plaintiff is entitled to recover punitive damages. In conversion, the defendant must have published his/her use of the property to another.What are the factors a court uses to determine whether a defendant's use of copyrighted material may be excused under the Fair Use doctrine?What are the equity issues associated with the preferential tax treatment of nonprofits? What is the principal-agent problem and why to scholars believe that it is more pronounced with a government bureaucracy than with a private firm? And explain what is the tax price for donations?
- Expectation damages are best described as: A) An entitlement to contractual performance for the promise protected by a property rule. B) An entitlement to contractual performance for the promise protected by a property rule. C) An entitlement to contractual performance for the promise protected by a liability rule. D) An entitlement to contractual performance for the promise protected by an inalienability rule.Adam Smith proposed taxing ‘Sugar, rum and tobacco’ because they are: “nowhere necessaries of life” “objects of almost universal consumption” In consumer theory economics, what is the difference between a necessity and a luxury good. What is the likely difference in the tax revenue obtained from a tax imposed on a necessity versus a luxury good? Explain and illustrate with appropriate figures. Question Requirements: Identify the difference between a necessity and luxury and provide an example. Highlight ability to identify the link of this definition to tax revenue. Highlight ability to encapsulate this concept precisely using correctly drawn figure.How does Henry George’s proposal for a single tax on land relate to the elasticity of the supply of land? Why are there so few remaining advocates of George’s proposal?
