§ 1-26-713 — Loss of goodwill

Wyoming § 1-26-713

• Jurisdiction: Wyoming
• Title 01: Civil Procedure
• Ch. 26: EMINENT DOMAIN
• Art. 7: COMPENSATION

Text

(a) In addition to fair market value determined under W.S.
1-26-704, the owner of a business conducted on the property
taken, or on the remainder if there is a partial taking, shall
be compensated for loss of goodwill only if the owner proves
that the loss:
(i) Is caused by the taking of the property or the
injury to the remainder;
(ii) Cannot reasonably be prevented by a relocation
of the business or by taking steps and adopting procedures that
a reasonably prudent person would take and adopt in preserving
the goodwill;
(iii) Will not be included in relocation payments
under W.S. 16-7-101 through 16-7-121; and
(iv) Will not be duplicated in the compensation
awarded to the owner.
(b) Within the meaning of this section, "goodwill"
consists of the benefits that accrue to a business as a result
of its location, reputation for dependability, skill or quality
and any other circumstances resulting in probable retention of
old or acquisition of new patronage.