1. What is the difference between private and public goods? How ownership of private goods (property) may result in conflicts? Give suitable example to illustrate your answer.
2.Explain the relationship between efficiency and distribution in analyzing the Private Law. Cite examples to highlight your answer.
3.The Jones family plants pear trees on their property which is adjacent to the Smith family. The Smith family gets an external benefit from the Jones family's pear trees because they pick up whatever pears fall to the ground on their side of the property line. In the light of the cited case, discuss the rights of both the family; issues/conflicts as describe under the Coase theorem.
4.What are transaction costs in a legal suit? Explain different types of these costs.Cite an example
5. Describe the three elements of a tort in the following situations:
a. Motorists driving on crossing streets come to an intersection with a stop light and collide.
b. The owner of Al's Donut Shop spreads the false rumor that patrons of Betty's Donut Shop got ptomaine poisoning from the jelly in her donuts.
c. The escalator in a store rips a customer's pant leg to shreds
6. Case Study:
Leslie inspects a house under construction in a new subdivision on the north side of town and decides to buy it. The day after she moves in, the wind shifts and begins to blow from the north. She smells a powerful stench. (bad odor). On inquiring, she learns that a large cattle feedlot is located north of the subdivision, just over the ridge, and, to make matters worse, the owner of this old business plans to expand it. Leslie joins other property owners in an action to shut down the feedlot.
- Under what provisions can Leslie and others sue the owner of the feedlot?
- What are the legal rights of the Feedlot owner?
- What are the rights of the property owners?
- Write in 100 -150 words the argument or reasons for your suit against the Feedlot owner.
- As a Judge, make a decision and give your verdict - in 100 words.