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For example, the Supreme Court of Minnesota has defined appurtenance as "That which belongs to something else. Something annexed to another thing more worthy." [2] Applying this definition, an empty portion of land behind an adjoining house that is regarded as that house's backyard may be an appurtenance to the house. The idea being expressed ...
A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once. Common goods (also called common-pool resources [1]) are defined in economics as goods that are rivalrous and non-excludable. Thus, they ...
If the court finds that the buyer acted reasonably and in good faith and relied on the seller's promises, the court may create an easement by estoppel. For example: Ray sells land to Joe on the promise that Joe can use Ray's driveway and bridge to the main road at any time, but Ray does not include the easement in the deed to the land.
Land rights are such a basic form of law that they develop even where there is no state to enforce them; for example, the claim clubs of the American West were institutions that arose organically to enforce the system of rules appurtenant to mining. Squatting, the occupation of land without ownership, is a globally ubiquitous phenomenon.
An example would be unregulated forests as there's limited resources available and therefore rivalrous, but anyone may access these resources. If non-rivalrous, it would be a public good (cannot be rivalrous, no matter how much it is used, for example, the ocean (outside of territorial borders)). [10]
[1]: 482 This is to say, the Engel curve for each good is linear. Furthermore, the indirect utility function can be written as a linear function of wealth : (,,) = (,) which is a special case of the Gorman polar form. Hence, if all consumers have homothetic preferences (with the same coefficient on the wealth term), aggregate demand can be ...
The field of application of the law of value is limited to new output by producers of traded, reproducible labour-products, [22] although it might indirectly influence trade in other goods or assets (for example, the value of a second-hand good may be related to a newly produced good of the same type). Thus, the law does not apply to all goods ...