Business / Taxes / Fair Market Value: Fair market value is the price you would have to pay to buy a particular asset or service on the open market. The concept of fair market value assumes that both buyer and seller are reasonably well informed of market conditions. It also assumes that neither is under undue pressure to buy or sell, and that neither intends to defraud the other.
Fair Adjective Synonyms: impartial, even-handed, disinterested, equitable, just, unprejudiced, unbiased, objective, square
Market Noun Synonyms: demand, customer base, call
Market Verb Synonyms: market-place, exchange, Stock Exchange
Market Adjective Synonyms: shop, store, bazaar, supermarket, superstore
Business / Agriculture / Fair Market Value (FMV): The amount in cash, or on terms reasonably equivalent to cash, for which in all probability something might be sold by a knowledgeable owner to a knowledgeable purchaser. Several federal statutes stat MORE
Business / Finance / Market Value: The price at which an asset would pass from an informed and willing seller to an informed and willing buyer, assuming that goodwill played no role in the transaction. MORE