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Market Value
MARKET VALUEThe highest price a willing buyer would pay and a willing seller would accept, both being fully informed, and the property being exposed for sale for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time (market price). The market value of an article or piece of property is the price that it might be expected to bring if offered for sale in a fair market; not the price that might be obtained on a sale at public auction or a sale forced by the necessities of the owner, but such a price as would be fixed by negotiation and mutual agreement, after ample time to find a purchaser, as between a vendor who is willing (but not compelled) to sell and a purchaser who desires to buy but is not compelled to take the particular article or piece of property. |
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Cite this article
"Market Value." West's Encyclopedia of American Law. 2005. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>. "Market Value." West's Encyclopedia of American Law. 2005. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1G2-3437702829.html "Market Value." West's Encyclopedia of American Law. 2005. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3437702829.html |
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market value
mar·ket val·ue • n. the amount for which something can be sold on a given market.Often contrasted with book value. |
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Cite this article
"market value." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>. "market value." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1O999-marketvalue.html "market value." The Oxford Pocket Dictionary of Current English. 2009. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O999-marketvalue.html |
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