The Wisconsin Statement of Mineral Claim is a document that is used to establish a claim upon a mineral deposit. This document is used to record a mining claim on a parcel of land located in Wisconsin. It must be filed with the Wisconsin Department of Natural Resources, and must include a description of the property, including its location and boundaries, the mineral deposits claimed, and the name of the claimant. There are two types of Wisconsin Statements of Mineral Claim: Quartz Claim and Placer Claim. A Quartz Claim is used to claim ownership of a quartz deposit, while a Placer Claim is used to claim ownership of a placer deposit. Both require the claimant to provide a valid map and survey of the claimed property.
Wisconsin Statement of Mineral Claim
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Statement of Mineral Claim
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(a) In this subsection, ?document of rescission" means a document stating that an identified satisfaction or affidavit of satisfaction of a security instrument was recorded erroneously, the secured obligation remains unsatisfied, and the security instrument remains in force.
Liquidated damages are presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.
What is a Liquidated Damages Clause? A liquidated damages clause is a means of ensuring that you are compensated if the party you hired fails to do the job. It should include a clause that sets out the specific amount of damages you are to receive if a specific type of breach occurs.
Liquidated damages are used to compensate the government for probable damages. Therefore, the liquidated damages rate must be a reasonable forecast of just compensation for the harm that is caused by late delivery or untimely performance of the particular contract.
Although Wisconsin statutes do not expressly address the issue, common law holds that a owner of a mineral estate is assumed to own them for the purpose of using the minerals and can access the surface to the extent necessary for such use (with possible compensation to the surface owner for damages).
Under Wis. Stat. § 706.057(3), mineral interests that are not used for 20 years revert to the owner of the surface interest in the real estate.
To be enforceable in Wisconsin, liquidated damages must be reasonable. That is, they must reflect a rational estimate of the owner's likely damages caused by delay. Liquidated damages that are far greater than the owner's actual damages will be deemed unreasonable and unenforceable.
Liquidated Damages: These types of damages are awarded when there is a provision in a contract which states the amount of damages that shall be awarded in the event of a breach. Liquidated damages cannot be used as punishment to a party or to harm the party for the breach.