Question

1. what is the different between public use and public purpose under the power of eminent domain?

2. what is public use and what is public purpose, give some example to explain.

3. in the contract, what is bilateral and unilateral mean?

4. what's the different between opening listing and exclusive agency listing of listing contracts?

Answer 1

1. what is the different between public use and public purpose under the power of eminent domain?
Answer: They key difference between public use and public purpose is that of compensation. As per the power of eminent domain also known as condemnation, local, state or fed government can take the property and will pay compensation for it. It can be even enforced. The property taken can be either for public use where the compensation is paid to the owner for property use where as in case of public purpose, compensation is not paid to the owner and the property is occupied for public sector undertakings. Public purpose also includes the land, property acquisition that can be even transferred to private companies that will be ultimately used for public purpose.

2. what is public use and what is public purpose, give some example to explain.

A Public use means a land, property acquired by local, state or federal government for the purpose of public use and will be paid compensation for the same.
Example: Land next to Metro station is occupied by State Government for the purpose of local car and bike parking and will pay compensation to owner for the same. This land is for public use.
   Public purpose also includes the land, property acquisition that can be even transferred to private companies that will be ultimately used for public purpose.
Example: A land acquired by state to open a school for nearby children that will be used for public purpose.
3. in the contract, what is bilateral and unilateral mean?
Bilateral Contract: A bilateral contract is an agreement whereby two parties come together and promise to exchange something on a particular date and has clear intention to honor the agreement. Also there is an offer and acceptance by both the parties.

Unilateral Contract:
It is an agreement created by an offer can can be enforced only if certain activity is performed, meaning it is accepted by performance. For example: Reward for providing criminal detail to Police.

4. what's the difference between opening listing and exclusive agency listing of listing contracts?
Answer: An open listing is a real estate contract where one or many agent or broker is involved to fix the deal for selling property. Agent or broker receives the decided commission for this service. Even owner can be involved in this.
   Exclusive Listing is also a real estate contract where the owner exclusively appoints a firm/agent/broker who will market and sell the property on behalf of owner and will receive the commission when the contract is completed.
In open listing, owner or multiple agents/brokers can be involved where as in exclusive listing, only one agent or broker will be involved.