fair market value

fair market value definition - legal

n

Market value, the price that can be had for property in a reasonable commercial marketplace; in corporate law, the intrinsic value of shares of stock, for purposes of determining a buy-out price. 

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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