Bob Owns Twenty Acres of Land on the Side of a Mountain

question 71

Multiple Choice

Bob owns twenty acres of land on the side of a mountain in Colorado. He files a suit against the Durango Flight School, claiming that its planes flying over his land violate his property rights. To succeed, his best argument is

• A)the planes fly over more than twice a day.
• B)there are other routes the planes could take.
• C)the flights are low and frequent, interfering with enjoyment of his land.
• D)the planes are effectively taking private property for private use.

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Definitions:

Termination Pay

Compensation given to an employee when their employment ends as per the terms of their work contract, often depending on the duration of employment.

Asset Write-downs

Reductions in the book value of assets when their fair market value falls below the carrying value on the balance sheet.

Revenues and Gains

Measures of income for a business, where revenues come from primary operations and gains from secondary activities or the sale of assets.

Peripheral Activities

Secondary or non-core operations of a company that are not essential to its primary business functions.