Dirk refuses and suit ensues

Assignment Help Financial Management
Reference no: EM131933905

Dirk buys a piece of property in California that is bordered on all four sides by properties owned by Rich; in other words, Dirk’s property is landlocked. The closest town to the properties is one mile south, but Dirk's only access to his property is via a road heading to the north. This road crosses a river and then intersects a highway. The next bridge on the highway is 20 miles away, whichever direction Dirk travels. So, in effect, the only way Dirk can get to the nearby town is by traveling over 20 miles in the wrong direction.

The southern side of Dirk's property is only twenty feet from the main public road that goes into the nearby town. Rich owns that 20 foot strip of land that blocks Dirk’s access to the public road. The entire area of these properties is remote and forested. Rich is rarely on his property.

Dirk can't stomach the idea of driving 20 miles out of his way so he makes a short cut to get to the main road. He clears the entire twenty foot strip right up to the side of the public road and fences off both sides of his clearing. So, Dirk has essentially added about 20 feet to his property along the entire edge of the public road.

For the next six years Dirk regularly uses the 20 foot strip as a driveway to the road. He also builds a garage on that strip so that he doesn’t have to drive all the way through his property to his house. Dirk has the whole area surveyed and pays taxes on the entire piece of property. Dirk is not on his property all the time, but does spend almost every weekend there. Because of its remoteness, Rich never discovers Dirk’s use of the 20 strip until he decides to sell his property.

At that point, he tells Dirk to get off his property. Dirk refuses and a suit ensues. What is the likely result of the suit? What will Rich argue? What will Dirk argue? Explain your answers and give all sides.

Reference no: EM131933905

Questions Cloud

Calculating finance charge rebate-find loan payoff amount : Francis decided to pay off the loan. After calculating the finance charge rebate, find the loan payoff amount.
Investment in one of two mutually exclusive projects : Your company is considering an investment in one of two mutually exclusive projects.
Major differences between sales and market orientations : Which of the modes of social control is NOT relevant to the student loan debt issue? here are no major differences between sales and market orientations.
What is holmes after-tax cost of debt : If its marginal tax rate is 40%, what is Holmes' after-tax cost of debt?
Dirk refuses and suit ensues : Dirk refuses and a suit ensues. What is the likely result of the suit? What will Rich argue? What will Dirk argue?
Based on the company projected sales level : In the percent of sales method, a company's asset requirements are based on the company's projected sales level.
How carlos deals with cross-cultural differences : Discuss why Carlos Ghosn is considered a successful cross-cultural leader, and how Carlos deals with cross-cultural differences.
What are portfolio weights of each stock : What are the portfolio weights of each stock?
Equity risk premiums as method of comparison : Describe the significance of US equity risk premiums as a method of comparison with other countries

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd