Justice Blackburns rule in Rylands vs. Fletcher Assignment

Justice Blackburns rule in Rylands vs. Fletcher - Assignment Example A few days after the completion of the reservoir, water from the same flooded into Person Y’s land despite there being no unusual rainfall or flooding. The case went through various stages of the court system and ended up before the Court of Appeal, being the Exchequer Chamber of six judges, in 1866. There Justice Colin Blackburn stated the following which has now come to be referred to as â€Å"Justice Blackburn’s rule in Rylands vs. Fletcher†. "The true rule of law is, that the person who for his own purposes brings on his lands and collects and keeps there anything likely to do mischief if it escapes, must keep it at his peril, and, if he does not do so, is prima facie answerable for all the damage which is the natural consequence of its escape. He can excuse himself by showing that the escape was owing to the Plaintiff’s default; or perhaps, that the escape was the consequence of vis major or the act of God; but as nothing of this sort exists here, it is unnecessary to inquire what excuse would be sufficient." It should be noted that Justice Blackburn’s rule was accepted with a slight modification by the House of Lords. The House of Lords imposed a restriction on the rule by stating that it is applicable to "nonnatural" use of the defendants land, as distinguished from "any purpose for which it might in the ordinary course of the enjoyment of land be used." A creditor can institute an action in the county court for the amount due to him by the debtor. If the amount is paid the debtor can avoid the judgment being given against him. A claim form is sent by the creditor to the debtor stating the claim that he has against him. If the debtor pays the debt in full along with interest and court fees, a CCJ is not issued and a court hearing avoided. On the other hand, if he wishes to pay later or in installments the debtor should fill in the form stating how he wishes to pay the debt – a CCJ will, however, be issued in this instance.

What happens to a monopolys revenue when it sells more units of its Essay

What happens to a monopolys revenue when it sells more units of its product - Essay Example pure monopoly in this world of increased consumer awareness and consumer protection, but a close example can be utilities such as water, electricity etc. in a country or Microsoft in the personal computer market. Since there is only one supplier in the monopoly market, therefore the demand curve of the single supplier is the market demand curve. The monopolist will set his quantity at a level where the incremental revenue earned by selling one unit, i.e. marginal revenue is equal to the marginal cost, i.e. incremental cost of producing one extra unit. The price will be set equivalent to the average revenue at that quantity. Lack of competition allows the monopolist to earn an economic profit. This is shown graphically on the next page. When the number of units sold increases the revenue increases; primarily because the supplier is the only one in the market and there is little option available to the consumers. However, as the price increases, the elasticity of demand for the product increases (becomes more elastic; as shown by the demand curve D) and the demand starts to decline more than proportionately to the change in price. If the decline in demand is more than the increase in price, then the seller’s revenue would decrease. Given the income distribution in a society, there is a limit to the number of units that can be sold at a high price and if the seller intends to sell more units, then he must lower the price of the