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n. 1) in general a fair and reasonable amount of money to be paid for work performed or to make one "whole" after loss due to damages. 2) the full value to be paid for property taken by the government for public purposes guaranteed by the Fifth Amendment to the U.S. Constitution, which states: "…nor shall private property be taken for public use without just compensation." If the amount offered by the governmental agency taking the property is not considered sufficient, the property owner may demand a trial to determine just compensation.