Colin Operated an Apartment Building,in Which He Had Installed Dishwashers

question 115

Essay

Colin operated an apartment building,in which he had installed dishwashers in the kitchen cabinets.The dishwashers were attached by a flexible plastic hose to the copper plumbing system of the apartment,and were plugged into the electrical wiring by means of a normal socket.As an express term of Colin's mortgage,all appliances in the apartments were considered to be fixtures.Colin soon ran into financial difficulties in his operation,and found himself pressed by his creditors.The holder of the mortgage foreclosed on the building,and the local hydro utility obtained a judgment against Colin.The hydro company seized upon the appliances of the building,including among them the dishwashers.The mortgage holder brought an action to recover the property and appliances,including the dishwashers.Discuss the issues raised with respect to fixtures,treating the situation of the dishwashers as well as other appliances.Discuss the issues that both creditors may raise in their argument,and explain why the mortgage holder should not simply limit his argument to the provisions of the mortgage.Render a decision.

Describe the bicameral nature of state legislatures.

Understand the strategies for enacting policy reforms at the community level.

Comprehend the motivations behind elected officials' prioritization of certain issues.

Identify the roles of heads of government and their relationship to the administration.

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Definitions:

Backward-Bending

Describes a labor supply curve reflecting a situation where higher wages lead to a decrease in labor supplied because individuals opt for leisure over work.

Labor Supply Curve

A graphical representation showing the relationship between the different levels of wages and the quantity of labor workers are willing to supply.

Income Effect

A person’s willingness to give up some income in exchange for more leisure time.

Substitution Effect

If the price of a resource, say labor, goes up, business firms tend to substitute capital or land for some of their now-expensive workers. Also, the substitution of more hours of work for leisure time as the wage rate rises.