GLOSSARY 573

GLOSSARY 573

EFFECTIVE INTEREST RATE — The percentage of interest that is actually being paid by the borrower for the use of the money, distinct from nominal interest. EMBLEMENTS — The crops and other annual plantings considered to be personal property of the cultivator. EMINENT DOMAIN — The right of the government to acquire property for necessary public or quasi-public use by condition; the owner must be fairly compensated and the right of the private citizen to get paid is spelled out in the 5th Amendment to the United States Constitution. ENCROACHMENT — An unlawful intrusion onto another’s adjacent property by improvements to real property, e.g. a swimming pool built across a property line.