fair value

Definitions

Accounting

  • noun a price paid by a buyer who knows the value of what he or she is buying, to a seller who also knows the value of what is being sold, i.e., neither is cheating the other
  • noun a method of valuing the assets and liabilities of a business based on the amount for which they could be sold to independent parties at the time of valuation

Law

  • noun a price paid by a buyer who knows the value of what he or she is buying, to a seller who also knows the value of what he or she is selling, i.e. neither is cheating the other
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