Alexander Wood Renton

“ Compensation, in its most familiar sense, is however a nomen juris for the reparation or satisfaction made to the owners of property which is taken by the state or by local authorities or by the promoters of parliamentary undertakings, under statutory authority, for public purposes. There are two main legal theories on which such appropriation of private property is justified. The American may be taken as a representative illustration of the one, and the English of the other. ”

“ Potential value may be taken into account, and also good-will of the property in a business. This rule, however, excludes any consideration of the principle of “betterment.” (2) Where land, although not taken, is “injuriously affected” by the works of the promoters, compensation is payable for loss or damage resulting from any act, legalized by the promoters’ statutory powers, which would otherwise have been actionable, or caused by the execution (not the use) of the works authorized by the undertaking. ”

“ Promoters are not allowed without the consent of the owner to enter upon lands which are the subject of proceedings under the Lands Clauses Acts, except for the purpose of making a survey, unless they have executed a statutory bond and made a deposit, at the Law Courts Branch of the Bank of England, as security for the performance of the conditions of the bond.
Measure of Value.— (1) Where land is taken, the basis on which compensation is assessed is the commercial value of the land to the owner at the date of the notice to treat. ”