01:220:395 Lecture Notes - Lecture 11: Adverse Possession, Bargaining, Non-Disclosure Agreement
2 May 2016
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Document Summary
Damages and injunctions damages make the plaintiff whole; backward looking injunctions enjoin the defendant to do or refrain from doing a specific act; forward looking. Injunction an injunction does not prevent the invasion, only from occurring without the plaintiff"s permission. Public good everyone obtains the benefit cannot exclude anyone one"s use does not detract from others example: national defense. Private good one person"s consumption makes it unavailable to others only consumers obtain benefit rivalry excludability example: consumer goods. Common resource a resource not owned by anyone example: ocean, moon, etc. Tragedy of the commons a shared common resource and rational economic behavior, eventually depletes the common resource. Adverse possession owner sleeps on the rights property rights are abandoned and new owner takes possession example: abandoned land, abandoned ship. Lost/found items procedure: find an object go to court sign a document time period elapses if no response new ownership is established.
