Oil Extraction Arrangements Need to Deal with Common Property Issues

question 79

Multiple Choice

Oil extraction arrangements need to deal with common property issues:

• A)due to heavy regulation in the natural resource industries.
• B)due to the highly sensitive nature of oil reserves after the 9/11 events.
• C)as a result of the rule of capture.
• D)because oil belongs to the entire people.

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Definitions:

Pure Comparative Negligence

A legal doctrine under which damages in an accident are calculated based on the degree of fault of each party, allowing a plaintiff to recover even if they are 99% at fault, but the recovery is reduced by the plaintiff's level of fault.

Negligence

The failure to take reasonable care to avoid causing injury or loss to another person.

Losses Total

The complete sum of all financial losses incurred by an entity during a specified period.

Negligent

Failing to take proper care in doing something, leading to damage or injury to another.