Reference no: EM131378670
Several businesspeople secured a contract with the state of Massachusetts that permitted them to construct a bridge spanning the Charles River. The businesspeople intended to charge a toll for passage over the bridge to recover the expense of building the bridge and make a sizable profit off its operation.
Later, another group of businesspeople made a similar contract. They too were permitted to build a bridge and charge a toll. There was, however, a sixyear limit on the tolls that would be charged on the second bridge, transforming it into a free bridge after the end of the six-year period. The first group of businesspeople realized that the existence of a free bridge would make their bridge worthless.
Accordingly, they sued to prevent the second bridge from being constructed. They argued that the original contract that they had negotiated with the state implied that no other bridge would be built.
The second group argued that because there was no explicit agreement in the first contract preventing a second bridge from being built, the court, under the Contracts Clause of the Constitution, could not impair the rights they had freely negotiated under the new contract to build a second bridge. The case ended up in the United States Supreme Court. How did the Supreme Court decide the case? Explain.
Proprietors of the Charles River Bridge v. Proprietors of the Warren Bridge, 11 Pet. 420 (USSCt. 1837). See also L. Friedman, "Economy and Law in the Nineteenth Century," Law in America (New York: The Modern Library, 2002), pp. 49-54.
Which is not a factor that influences the span of management
: Which of the following is NOT a factor that influences the span of management? The primary purpose of staff authority is to provide line personnel with advice and counseling.
|
Goods added to inventories during given year
: Goods added to inventories during a given year are: If aggregate demand grows more rapidly than aggregate supply, prices
|
In what was were vietnam and iran affected by this conflict
: How was the newly-emerging nations (former colonies) affected by the Super Power conflict between the Soviet Union and the United States? In what was were Vietnam and Iran affected by this conflict
|
What are the four elements of a contract
: What is a contract?- How did the law merchant develop?- How did the law merchant merge with common law?- What are the four elements of a contract?
|
How did the supreme court decide the case
: Several businesspeople secured a contract with the state of Massachusetts that permitted them to construct a bridge spanning the Charles River.- . How did the Supreme Court decide the case? Explain.
|
Did rockefeller raise or lower price of oil for consumer
: Did Rockefeller raise or lower the price of oil for consumers? Did he increase or decrease access to oil? What impact did this change have on the living experience of consumers? In particular, were wealthy consumers or poor consumers impacted more?
|
What is indirect utility function
: What is indirect utility function? How will you derive an indirect utility fuctio from a direct utility function?ezplain roy''s identity?
|
Use economics to evaluate such policies
: Both Trump and Clinton campaigned on the promise of reducing the amount of foreign products sold in America. Use economics to evaluate such policies. Who would benefit the most? Who would be hurt the most? In light of this analysis, but according to ..
|
Should appellate court reverse decision of the lower court
: The trial court granted the summary judgment motion, and Adelman appealed. Should the appellate court reverse the decision of the lower court? Explain. If the case goes to trial, how will the court determine the meaning of the ambiguous clause? Ex..
|