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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 misappropriation doctrine is a U.S. legal theory conferring a "quasi-property right" on a person who invests "labor, skill, and money" to create an intangible asset. The right operates against another person (usually a competitor of the first person) "endeavoring to reap where it has not sown" by "misappropriating" the value of the asset ...
Garcia v. San Antonio Metropolitan Transit Authority, 469 U.S. 528 (1985), is a landmark United States Supreme Court [1] decision in which the Court held that the Congress has the power under the Commerce Clause of the Constitution to extend the Fair Labor Standards Act, which requires that employers provide minimum wage and overtime pay to their employees, to state and local governments. [2]
The labor theory of property does not only apply to land itself, but to any application of labor to nature. For example, natural rights thinker Lysander Spooner, [4] says that an apple taken from an unowned tree would become the property of the person who plucked it, as he has labored to acquire it. He says the "only way, in which ["the wealth ...
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.
The prior appropriation doctrine developed in the Western United States from Spanish (and later Mexican) civil law and differs from the riparian water rights that apply in the rest of the United States. The appropriation doctrine originated in Gold-Rush–era California, when miners sought to acquire water for mining operations.
Chronic wasting disease, or CWD, poses a serious threat to Texas’ deer population, especially in light of the recent outbreak in captive deer — with more than 15 new CWD-positive facilities ...
Seven employees of the Swift & Company packing plant in Fort Worth, Texas, brought an action under the Fair Labor Standards Act of 1938 to recover overtime, liquidated damages, and attorneys' fees, totaling approximately $77,000 (equivalent to $1.33 million in 2023). The employees were required to stay on the packing plant's premises when they ...