Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ronald was areal estate developer who purchased land in Manhattan for $20 million to build a skysraper. After the purchase, the city a passed a

Ronald was areal estate developer who purchased land in Manhattan for $20 million to build a skysraper. After the purchase, the city a passed a new zoning ordinance preventing the building of all new developments for environmental purposes. Ronald now has no legitimate commercial use of the property anymore and it is essentially worthless. However, Ronald still had full title to the property. Under these circumstances, if Ronald sues the city for his losses, he will a) lose beacause this is not a taking as he still owns the property. b) lose beacause there was a legitimate envirnmental purpose for the regulation. c) win beacause cities must always compensate owners for regulations and ordinances that affect their property. d) win beacause the regulation depleted all economic valuefrom his property.

please answer and explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Audit For The Management Process Empresa Nacional De Productos Agropecuarios ENPA Of Villa Clara

Authors: Alejandra María Osorio Capote, Manuel Osvaldo Machado Rivero, Dianelys Martínez Paz

1st Edition

6203767883, 978-6203767889

More Books

Students also viewed these Accounting questions

Question

List one advantage and one disadvantage of subjective QoL measures.

Answered: 1 week ago