14:19
I wrote Raytheon instead of RTX since its more recognizable
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LSDefine
Simple English definitions for legal terms
just compensation
Read a random definition: public pond
A quick definition of just compensation:
Just compensation: When the government takes someone's property for public use, they have to pay the owner a fair amount of money for it. This is called just compensation. The amount should be what a normal person would pay for the property, and it should cover any extra costs the owner had because of the taking. The point of just compensation is to make sure the owner is not worse off financially because of the government taking their property.
A more thorough explanation:
Definition: Just compensation is a payment that the government must give to a property owner when it takes their property for public use through eminent domain. The payment should be fair and compensate the owner for the value of the property and any additional expenses incurred due to the taking. The goal is to return the owner to their original financial position before the taking occurred.
For example, if the government needs to build a new highway and your property is in the way, they may use eminent domain to take your land. In this case, they must provide you with just compensation for the value of your property and any expenses you incur due to the taking, such as moving costs or loss of business.
Another example could be if the government needs to build a new school and takes a portion of your property for the project. They must provide you with just compensation for the value of the land taken and any expenses you incur due to the taking.
These examples illustrate how just compensation works to ensure that property owners are fairly compensated when the government takes their property for public use.