Property Law and Economics: Outline the role of transaction costs in determining whether injunctions or compensatory money damages are the best remedy for violation of a legal right. Then use the theory of transaction costs to explain whether the following rights should be protected by injunction or damages: 

– A land owners right to exclude from his property a neighbour’s gas line; 

– A new car owners right to have her cars defective transmission replaced by the seller; 

– A homeowners right to be free from air pollution by a nearby factory; 

– A spouse’s right to half the house on divorce.

The focus of this essay is Law and Economics of Regulation.

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