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
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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
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Britannica.com: Encyclopedia article about fair market value
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