The Estates is a suburb outside of Los Angeles. Local zoning ordinances require that lots be at
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The Estates is a suburb outside of Los Angeles. Local zoning ordinances require that lots be "at least 1 acre in size.° Al owns a 1-acre lot in The Estates which has never been developed. He needs cash and wants to sell the property. Al finds a potential buyer who offers him $100,000 for the acre. But he also finds a pair of interested buyers who each offer him $75,000 for half of his acre. Al is furious that he cannot divide his acre and sell it to two buyers. "I need that extra $50,000: he rants. "It's my land, and I should be able to do what I want with it!" Do you sympathize with Al, or do you think the zoning restriction is reasonable?
Related Book For
Business Law and the Legal Environment
ISBN: 978-1133587491
5th edition
Authors: Jeffrey F. Beatty, Susan S. Samuelson
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