fair market value
noun
Definition of fair market value
: 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
Indulge Your Inner Word Nerd
1891
First Known Use of fair market value
1891
Law Dictionary
fair market value
noun
Legal Definition of fair market value
: 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
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Britannica.com: Encyclopedia article about fair market value
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