In common law legal systems, precedent is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts.
Answer: Private <u>property</u> cannot be taken for <u>public</u> use without paying the owner a fair price.
Explanation:
When compensating with someone, you must give something in return. Therefore, paying the owner a fair price for the private property is a way of compensating.
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