Local Governments Can Use Eminent Domain to Condemn Property for Certain

question 17

True/False

Local governments can use eminent domain to condemn property for certain community needs, such as schools and roads. This is commonly and often used for this purpose.

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Definitions:

Lawsuit Loss

Financial loss recognized by a company due to legal judgments or settlements in lawsuits.

Reasonably Possible Loss

A loss that is not assured but has a good chance of occurring, requiring disclosure in financial statements if quantifiable and material.

Losses Accrued

Expenses that have been incurred but not yet paid or recorded in the financial statements.

Probable Loss

An expected financial loss from contingent liabilities that can be reasonably estimated.