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Title: Suppose an individual discovers the mouth of a previously unknown cave (expected to contain a single large diamond) on h

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Q:

Suppose an individual discovers the mouth of a previously unknown cave (expected to contain a single large diamond) on his property that extends under land owned by others. To arrive at an economically efficient outcome with low transaction cost, the law will:

Answer

 

award the diamond to the person who locates the diamond first.

 

award the diamond and cave to the person whose land it opens into.

 

award the diamond to the owner of the land above it.

 

award the diamond to each of the owners under whose land the cave passes.


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Title: Suppose an individual discovers the mouth of a previously unknown cave (expected to contain a single large diamond) on h

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    • Posted Date: May 17, 2012 at 9:14:32 PM

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...ppose an individual discovers the mouth of a previously unknown cave (expected to contain a single l...
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