This section contains the nature of the case and procedural background.

Altoma (D) operated a grain elevator and warehouse under a series of leases from 1919 to 1967. The Government (P) decided to acquire the land by eminent domain and only wanted to pay P the fair market value of the legal rights possessed by D by virtue of the lease and that no consideration should be given to any additional value based on the expectation that the lease might be renewed. D argued that just compensation should be measured by what a willing buyer would pay in an open market for D's leasehold. The real essence of the dispute was that P did not want to pay more than salvage value for the buildings and improvements while D wanted to be compensated for the market value of its buildings and improvements.

The legal issues presented in this case will be displayed here.

The court's holding and decision will be displayed here.

Legal analysis from Dean's Law Dictionary will be displayed here.