- Payment for work done.
- Payment for injury, loss, or
otherwise depriving a person of something he or she is entitled to. See also damages.
- Payment at some agreed time in the
future for work already done.
- Payment for work done paid in a tax
year subsequent to when the payment is earned or paid in a manner, such as
contributing to a qualified pension or profit-sharing plan, that postpones the
employeeÂ’s tax liability for the payment.
The compensation to a property owner required by the Fifth
Amendment to the United States Constitution whenever a state government or the
federal government takes possession of private property by means of eminent
domain for public use. Generally, the amount of compensation is the market
value of the property at the time of the taking. See also eminent domain