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Under English law and Australian law, equitable waste is waste that a life tenant has a right to commit at common law but is restrained by a court of equity. This doctrine fits under the broader framework of equity, in which a legal right to do something is not so unrestrained that it is impossible to abuse that right.
Directors have a duty not to waste corporate assets by overpaying for property or employment services. Thus the definition of waste is an exchange so one-sided that no business person of ordinary, sound judgment could conclude the corporation has received adequate consideration. This is difficult to prove in a court of law.
Waste determination is the process by which a particular material is classified as a "waste" subject to regulation. [1] The question can become quite complicated, as for example determining whether a some material is "hazardous waste" under the U.S. Resource Conservation and Recovery Act.
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
The vested rights doctrine is the rule of zoning law by which an owner or developer is entitled to proceed in accordance with the prior zoning provision where there has been a substantial change of position, expenditures, or incurrence of obligations made in good faith by an innocent party under a building permit or in reliance upon the ...
The law was challenged in court and overturned. The Dec. 8 Enquirer states: "For nearly 20 years, Ohio cities have been barred from passing their own laws regulating firearms…"
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This doctrine makes state law ineffective when it conflicts with or disturbs the balance between competition and monopoly struck in the federal intellectual property laws. On the other hand, the misappropriation doctrine has not been preempted in areas where a type of copying is not regulated under federal copyright or patent law. [16]