In Eminent Domain Cases Decided in 1945 and 2005, the Supreme

question 61

Multiple Choice

In eminent domain cases decided in 1945 and 2005, the Supreme Court has ruled that cities

• A)are only allowed to seize land from private owners in order to build new highways or new schools.
• B)must retain all land they seize from private owners for at least 50 years.
• C)must retain all land they seize from private owners for at least 100 years.
• D)can seize land from private owners and transfer it to another private owner as part of a redevelopment program.

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Definitions:

Liquidation Process

The procedure of closing a business by selling its assets to pay off its liabilities and distributing any remaining assets to the owners or shareholders.

Gain or Loss

Represents the difference between the sale price of an asset and its original purchase price, indicating a financial profit or deficit.

Income Ratios

Financial metrics that compare different aspects of a company's income, such as net income to sales or net income to total assets, to assess financial health.

Partnership Liabilities

Obligations that are the responsibility of a partnership, shared among partners according to their agreement.