Eminent Domain: Tommy Professor Hidy Legal Environment of Business 17 April 2012 Eminent domain refers to the government and state having power over all property within a state, usually the power to take property for public uses, such as a park or library. In the United States, under the Fifth Amendment to the Constitution, the owner of any property is entitled to reasonable compensation, this meaning the fair market value of the property. The fair market value is the highest…
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