just compensation

just compensation
Compensation which is fair to both the owner and the public when property is taken for public use through condemnation (eminent domain). Consideration is taken of such criteria as the cost of reproducing the property, its market value, and the resulting damage to the remaining property of the owner. The Fifth Amendment to the U.S. Constitution provides that no private property shall be taken for public use, without "just compensation." Within Fifth Amendment provision that private property shall not be taken for public use without just compensation, "just compensation" means the full monetary equivalent of the property taken. U. S. v. Reynolds, Ky., 397 U.S. 14, 90 S.Ct. 803, 805, 25 L.Ed.2d 12.
As regards property taken for public use, the term is comprehensive and includes all elements, Jacobs v. U. S., Ala., 290 U.S. 13, 54 S.Ct. 26, 78 L.Ed. 142; Metropolitan Water Dist. of Southern California v. Adams, 16 Cal.2d 676, 107 P.2d 618, 621,
but does not exceed market value. U. S. v. Waterhouse, C.C.A.Hawaii, 132 F.2d 699, 703.
It means a settlement which leaves one no poorer or richer than he was before the property was taken. U. S. ex rel. Tennessee Valley Authority v. Indian Creek Marble Co., D.C.Tenn., 40 F.Supp. 811, 818, 819.
Adequate compensation. State v. Hale, Tex.Civ. App., 96 S.W.2d 135, 141. Fair market value. Cameron Development Co. v. United States, C.C.A.Fla., 145 F.2d 209, 210.
Full and perfect equivalent of the property taken. U. S. v. 2.4 Acres of Land, More or Less, in Lake County, 111., C.C.A.I11., 138 F.2d 295, 297.
It is the fair market value of property taken at time of taking, Danforth v. U. S., Mo., 308 U.S. 271, 60 S.Ct. 231, 236, 84 L.Ed. 240; plus compensation for delay in payment, Kieselbach v. Commissioner of Internal Revenue, 317 U.S. 399, 63 S.Ct. 303, 305, 87 L.Ed. 358; or consequential damages to the owner, In re Board of Water Supply of City of New York, 277 N.Y. 452, 14 N.E.2d 789; or value of use of property from date of taking possession to date of judgment if possession is taken by condemnor prior to judgment. Los Angeles County Flood Control Dist. v. Hansen, 48 Cal.App.2d 314, 119 P.2d 734, 735.
It requires that the owner be put in as good position pecuniarily as he would otherwise have been if the property had not been taken. Almota Farmers Elevator & Warehouse Co. v. U.S., Wash., 93 S.Ct. 791, 794, 409 U.S. 470.
Interest is recoverable in eminent domain proceedings as part of "just compensation" when payment is not contemporaneous with the taking. New Hampshire Water Resources Bd. v. Pera, 108 N.H. 18, 226 A.2d 774, 775, 776.
Market value at time of taking; i.e. highest price for which property considered at its best and most profitable use can be sold in open market by willing seller to willing buyer, neither acting under compulsion and both exercising reasonable judgment. State Highway Commission v. American Memorial Parks, Inc., 82 S.D. 231, 144 N.W.2d 25, 27.
On government's cancellation of contract, "just compensation" recoverable consists of such sum as in court's judgment will fairly compensate contractor. Enright v. U. S., 73 CtCl. 416, 54 F.2d 182, 190.
It is the value of contract at time of cancellation, not profits which it would have produced. De Laval Steam Turbine Co. v. U. S., 284 U.S. 61, 52 S.Ct. 78, 79, 76 L.Ed. 168

Black's law dictionary. . 1990.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • just compensation — n: compensation for property taken under eminent domain that places a property owner in the same position as before the property is taken see also eminent domain ◇ Just compensation is usu. the fair market value of the property taken. Attorney s… …   Law dictionary

  • just compensation — Compensation which is fair to both the owner and the public when property is taken for public use through condemnation (eminent domain). Consideration is taken of such criteria as the cost of reproducing the property, its market value, and the… …   Black's law dictionary

  • Just compensation — is required to be paid by the Fifth Amendment to the U.S. Constitution (and counterpart state constitutions) when private property is taken (or in some states, damaged) for public use. For reasons of expedience, courts have been generally using… …   Wikipedia

  • Just Compensation — Compensation provided to an owner whose private real property is seized by the government s power of eminent domain, which allows it to take such property for public use. For example, when the national highway system was being constructed in the… …   Investment dictionary

  • just compensation — noun The compensation provided for property taken via eminent domain. It is usually the fair market value of the property, but may be determined by other means. [...] ; nor shall private property be taken for public use, without just compensation …   Wiktionary

  • just compensation — A familiar term in constitutional provisions and statutes granting or regulating the exercise of the power of eminent domain in the condemnation and taking of private property. Reasonable compensation. A compensation which is just, not merely to… …   Ballentine's law dictionary

  • Compensation — • Denotes the price paid for human exertion or labour Catholic Encyclopedia. Kevin Knight. 2006. Compensation     Compensation     † …   Catholic encyclopedia

  • compensation — com·pen·sa·tion /ˌkäm pən sā shən/ n 1: the act of compensating 2 in the civil law of Louisiana: the ending of mutual obligations between two people for money or quantities of fungible things usu. by operation of law but sometimes by an agreement …   Law dictionary

  • just — adj [Latin justus lawful, merited, from jus right, law]: conforming to law or to the underlying principles of law: as a: conforming to reason or a standard of correctness just sanctions cannot be excessive in relation to the offense b: conforming …   Law dictionary

  • compensation — Indemnification; payment of damages; making amends; making whole; giving an equivalent or substitute of equal value. That which is necessary to restore an injured party to his former position. Remuneration for services rendered, whether in salary …   Black's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”