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fair market value

noun

Definition of fair market value

  1. :  a price at which buyers and sellers with a reasonable knowledge of pertinent facts and not acting under any compulsion are willing to do business

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First Known Use of fair market value

1891

Law Dictionary

fair market value

noun

Legal Definition of fair market value

  1. :  a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business

Learn More about fair market value

  1. Britannica.com: Encyclopedia article about fair market value

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