Bay City Wants to Acquire Undeveloped Land Within the City

question 7

Multiple Choice

Bay City wants to acquire undeveloped land within the city limits to convert into a public park.Bay City brings a judicial proceeding to obtain title to the land and pay the owner just compensation.This is an exercise of

• A)eminent domain.
• B)constructive eviction.
• C)inverse condemnation.
• D)zoning power.

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Definitions:

Instrument Payable

A written document that promises the payment of a definite amount of money either on demand or at a future date.

Definite Time

A specified period in contracts or agreements where certain actions or conditions must be met or take place.

Negotiation

The process of discussing and arriving at a mutual agreement between parties, often involving compromise or the making of concessions.

Holder

An individual or entity that possesses or controls a negotiable instrument, security, or other similar documents, legally recognized as entitled to the benefits of ownership.