rule, it is a condition
precedent to the exercise of these powers by a company that the capital
of the undertaking should be fully subscribed. Compensation, under the
Lands Clauses Acts, is assessed in four different modes:--(1) by
justices, where the claim does not exceed L50, or a claimant who has no
greater interest than that of a tenant for a year, or from year to year,
is required to give up possession before the expiration of his tenancy;
(2) by arbitration (a) when the claim exceeds L50, and the claimant
desires arbitration, and the interest is not a yearly tenancy, (b) when
the amount has been ascertained by a surveyor, and the claimant is
dissatisfied, (c) when superfluous lands are to be sold, and the parties
entitled to pre-emption and the promoters cannot agree as to the price.
(Lands become "superfluous" if taken compulsorily on an erroneous
estimate of the area needed, or if part only was needed and the owner
compelled the promoters under the power above mentioned to take the
whole, or in cases of abandonment); (3) by a jury, when the claim
exceeds L50, and (a) the claimant does not signify his desire for
arbitration, or no award has been made within the prescribed time, or
(b) the claimant applies in writing for trial by jury; (4) by surveyors,
nominated by justices, where the owner is under disability, or does not
appear at the appointed time, or the claim is in respect of commonable
rights, and a committee has not been appointed to treat with the
promoters.

Promoters are not allowed without the consent of the owner to enter upon
lands which are the subject of proceedings under the Lands Clauses Acts,
except for the purpose of making a survey, unless they have executed a
statutory bond and made a deposit, at the Law Courts Branch of the Bank
of England, as security for the performance of the conditions of the
bond.

_Measure of Value._--(1) Where land is taken, the basis on which
compensation is assessed is the commercial value of the land to the
owner at the date of the notice to treat. Potential value may be taken
into account, and also good-will of the property in a business. This
rule, however, excludes any consideration of the principle of
"betterment." (2) Where land, although not taken, is "injuriously
affected" by the works of the promoters, compensation is payable for
loss or damage resulting from any act, legalized by the promoters'
statutory powers, which would otherwise have been actionabl