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Full-Text Articles in Law
The Cathedral' At Twenty-Five: Citations And Impressions, James E. Krier, Stewart J. Schwab
The Cathedral' At Twenty-Five: Citations And Impressions, James E. Krier, Stewart J. Schwab
Articles
It was twenty-five years ago that Guido Calabresi and Douglas Melamed published their article on property rules, liability rules, and inalienability' Calabresi, then a law professor, later a dean, is now a federal judge. Melamed, formerly a student of Calabresi's, is now a seasoned Washington attorney. Their article-which, thanks to its subtitle, we shall call The Cathedral-has had a remarkable influence on our own thinking, as we tried to show in a recent paper2 This is not the place to rehash what we said then, but a summary might be in order. First, we demonstrated that the conventional wisdom about …
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Articles
Ronald Coase's essay on "The Problem of Social Cost" introduced the world to transaction costs, and the introduction laid the foundation for an ongoing cottage industry in law and economics. And of all the law-and-economics scholarship built on Coase's insights, perhaps the most widely known and influential contribution has been Calabresi and Melamed's discussion of what they called "property rules" and "liability rules."' Those rules and the methodology behind them are our subjects here. We have a number of objectives, the most basic of which is to provide a much needed primer for those students, scholars, and lawyers who are …
Basis Of Relief From Penalties And Forfeitures, Edgar N. Durfee
Basis Of Relief From Penalties And Forfeitures, Edgar N. Durfee
Articles
The equitable principle of relief from penalties and forfeitures is so far elementary as almost to defy analysis. Many, perhaps most, of the judicial explanations of the principle have based it upon interpretation or construction, appealing to the doctrine that equity regards intent rather than form. Yet a logical application of this doctrine would lead to results very different from those which have actually been arrived at in the decisions. Thus, a stipulation in a mortgage that the mortgagor waives his equity of redemption can hardly be interpreted as meaning that he does not waive it, yet all such stipulations …
Taking Of Equitable Easements For Public Use, Edgar N. Durfee
Taking Of Equitable Easements For Public Use, Edgar N. Durfee
Articles
The case of Flynn v. New York &c Railway Co., decided by the Court of Appeals of New York in April last, involves the right of an owner of land to which is appurtenant a so-called equitable easement, arising under a covenant restricting the use of other land, to compensation upon the taking of the servient land for a public use inconsistent with the restriction. A tract of land was laid out in accordance with a plan, and all, lots therein were sold and conveyed by deeds containing covenants, inter alia, that, "No building or structure for any business purpose …