Search Results for: COMPENSATE

eminent domain

eminent domain. The inherent power of a governmental entity to take privately owned property, esp. land, and convert it to public use, subject to reasonable compensation for the taking. — Also (rarely) termed compulsory purchase; (in Scots law) compulsory surrender. See CONDEMNATION(2); EXPROPRIATION; TAKING(2). [Cases: Eminent Domain 1, 69. C.J.S. Eminent Domain §§ 2–3, 71–72,

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spread

spread, n. 1. Banking. The difference between the interest rate that a financial institution must pay to attract deposits and the rate at which money can be loaned. 2. Securities. The difference between the highest price a buyer will pay for a security (the bid price) and the lowest price at which a seller will

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betterment act

betterment act. A statute requiring a landowner to compensate an occupant who improves the land under a mistaken belief that the occupant is the real owner. • The compensation usu. equals the increase in the land’s value generated by the improvements. — Also termed occupying-claimant act; occupant statute. [Cases: Improvements 4. C.J.S. Improvements § 5.]

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donation

donation. 1. A gift, esp. to a charity. [Cases: Gifts 1.] donation purely gratuitous. Louisiana law. An unconditional inter vivos gift. Cf. onerous donation. onerous donation. Civil law. An inter vivos gift burdened with a condition imposed by the donor. • There is no gift unless the gift’s value is more than twice as much

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contribution

contribution. 1. The right that gives one of several persons who are liable on a common debt the ability to recover ratably from each of the others when that one person discharges the debt for the benefit of all; the right to demand that another who is jointly responsible for a third party’s injury supply

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patent term extension

patent-term extension. A lengthening of the time a patent remains in force, given to compensate inventors for time lost because of administrative delays such as interferences, secrecy orders, or appeals. • The extension applies to utility and plant patents issued after June 7, 1995 and before May 29, 2000. Its maximum length is five years.

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indexing

indexing. 1. The practice or method of adjusting wages, pension benefits, insurance, or other types of payments to compensate for inflation. 2. The practice of investing funds to track or mirror an index of securities. — Also termed indexation.

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