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t. e. In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple ...
The Rule in Shelley's Case is a rule of law that may apply to certain future interests in real property and trusts created in common law jurisdictions. [1]: 181 It was applied as early as 1366 in The Provost of Beverly's Case [1]: 182 [2] but in its present form is derived from Shelley's Case (1581), [3] in which counsel stated the rule as follows:
Property law. In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. [1]
Weber's law. Ernst Heinrich Weber (1795–1878) was one of the first persons to approach the study of the human response to a physical stimulus in a quantitative fashion. Fechner was a student of Weber and named his first law in honor of his mentor, since it was Weber who had conducted the experiments needed to formulate the law.
Fee simple ownership is the absolute ownership of real property, in which the owner holds unconditional power over the land, as well as any improvements -- including buildings -- that sit on it.
Relative deprivation. Relative deprivation is the lack of resources to sustain the diet, lifestyle, activities and amenities that an individual or group are accustomed to or that are widely encouraged or approved in the society to which they belong. [1] Measuring relative deprivation allows an objective comparison between the situation of the ...
Anchoring effect. The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent ...
Example of psychological pricing at a gas station. Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round ...