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Fair market value
Fair market valueThe hypothetical most probable price that could be obtained for a property by average, informed purchasers. RELATED TERMS-------------------------------------- Probable That which has the appearance of truth; that which appears to be founded in reason. Price contracts. The consideration in money given for the purchase of a thing. Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. SIMILAR TERMS-------------------------------------- Fair A privileged market. Fair pleader This is the name of a writ given, by the statute of Marlebridge. Fair use Use of copyrighted material that is not considered infringement, such as for criticism, comment, parody, news reporting, research or teaching. Important factors in determining whether fair use was made of copyrighted material include whether the use is commercial or for nonprofit educational purposes, the nature of the copyrighted work, the amount of work used in relation to the whole and the effect of the use on the potential market for or value of the copyrighted work. Fair-play men About the year 1769, there was a tract of country in Pennsylvania, situate between Lycoming creek and Pine creek, in which the proprietaries prohibited the making of surveys, as it was doubtful whether it had or had not been ceded by the Indians. Although settlements were forbidden, yet adventurers settled themselves there; being without the pale of ordinary authorities, the inhabitants annually elected a tribunal, in rotation, of three of their number, whom they denominated fair-play men, who had authority to decide all disputes as to boundaries. Their decisions were final, and enforeed by the whole community en masse. Their decisions are said to have been just and equitable. PREVIOUS AND NEXT TERMS-------------------------------------- Failure of record The neglect to produce the record after having pleaded it. When a defendant pleads a matter, and offers to prove it by the record, and then pleads nul tiel record, a day is given to the defendant to bring in the record if he fails. to do so, he is said to fail, and there being a failure of record, the plaintiff is entitled to judgment. Termes de lay Ley. Failure of title Defect or want of title. Failure of trust Defeat of a proposed trust from want of constituting facts or elements or of law to effectuate the object. Faint pleader A false, fraudulent, or collusory manner of pleading, to the deception of a third person. Fair A privileged market. Fair market value Fair pleader This is the name of a writ given, by the statute of Marlebridge. Fair use Use of copyrighted material that is not considered infringement, such as for criticism, comment, parody, news reporting, research or teaching. Important factors in determining whether fair use was made of copyrighted material include whether the use is commercial or for nonprofit educational purposes, the nature of the copyrighted work, the amount of work used in relation to the whole and the effect of the use on the potential market for or value of the copyrighted work. Fair-play men About the year 1769, there was a tract of country in Pennsylvania, situate between Lycoming creek and Pine creek, in which the proprietaries prohibited the making of surveys, as it was doubtful whether it had or had not been ceded by the Indians. Although settlements were forbidden, yet adventurers settled themselves there; being without the pale of ordinary authorities, the inhabitants annually elected a tribunal, in rotation, of three of their number, whom they denominated fair-play men, who had authority to decide all disputes as to boundaries. Their decisions were final, and enforeed by the whole community en masse. Their decisions are said to have been just and equitable. Fait Conveyancing. A deed lawfully executed. Faith Probity; good faith is the very soul of contracts. Faith also signifies confidence, belief; as, full faith and credit ought to be given to the acts of a magistrate while acting within his jurisdiction. We thank you for using the Juridical Dictionary to search for Fair market value. If you have a better definition for Fair market value than the one presented here, please let us know by making use of the suggest a term option. This definition of Fair market value may be disputed by other professionals. Our attempt is to provide easy definitions on Fair market value and any other medical topic for the public at large.
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