Moving Out

Jesse’s getting kicked out because his parents believe he’s making meth in the house. His confusion stems from the fact that a relative passed the house down to him, so he believes the house belongs to him. Only now does Jesse learn that his parents actually own the house, which gives them the right to vacate him from the house. Property rights are an important component of contracts so that it’s clear who is able to control that property.

See more: bargaining power, Coase Theorem, contracts, property rights