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LSDefine

Simple English definitions for legal terms

Market Value

Read a random definition: Federal Communications Commission

A quick definition of Market Value:

Market Value: The fair price or value that something can be sold for in the marketplace. This is often used when talking about selling property or services. If the government takes someone's property, they have to pay them the fair market value as compensation. This is different from fair value, which is the value of something when there is no market for it.

A more thorough explanation:

Definition: Market value refers to the objective fair price or value that can be obtained for a good through a transaction in the marketplace. This term is commonly used in the context of property or services being sold, and is often synonymous with fair market value. When the government takes property, it must provide just compensation, which is typically the fair market value of the property.

Example: If you are selling your car, the market value would be the price that a buyer is willing to pay for it in an arm's-length transaction. This price would be based on factors such as the car's age, condition, and demand in the market.

Example: In property law, if the government takes your land for public use, they must provide just compensation, which is typically the fair market value of the land. This means that the government must pay you the amount that a willing buyer would pay for the land in an arm's-length transaction.

Market value is an important concept in determining the worth of goods and services in the marketplace. It helps ensure that buyers and sellers are able to make fair transactions based on objective pricing.

Market Participant Exception | Marketable Title

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@ParallelAgreeableOrangutan: also ty I just sent a LOCI in email form. hope they don't hate it lmfao
18:05
Penn Dick gave me the R
what kind of a name is penn Carey law anyway
18:06
Penn gon Carry u to meat market that is the legal career field
18:06
Buy 1 get 1, Penn Carey Grads, get em while they are hot!
18:14
Notre Dame is crushing my soul
18:14
So excited every Friday
NosyBeagle
18:20
i talked to such a nice rep for penn dick like years ago and i put them on my list
NosyBeagle
18:20
God bless that lady
Mostlylegal
18:34
Legit makes no sense that nd has accepted literally nobody still
18:35
manybe ND is taking a sabbatical?
got a gw wl->A!!!
NosyBeagle
18:46
yay! congrats
nice kiwi!!!!!
is that your first a?! :D
yes it is!! thanks guys
ugh so stoked for you
Did they give you scholly information???\
yeah they gave me 150k!
(not gendered) girl CONGRATS
you gonna go? :D
yeah I think so!! my goal was either nyc or dc so im super happy w it
so stoked for you. congrats. i imagine your previous decisions had been a little crushing. very happy your app got the recognition it deserved
18:55
@RoyalReadyKiwi: lessgo stay winning :D awesome work!!!
thank you so much guys!!! means a lot :D
CONGRATS ROYAL YASSSS
i feel like i live in my bubble because i'm seeing people talk about other people abusing time accommodations for the lsat and my first reaction was "they are?"
ronniedoeslaw
20:14
Congrats Kiwi!!
ParallelAgreeableOrangutan
20:35
@JupitersMoons: wait is email not typical for LOCI? ik you can upload to portals but isn't an email... a letter? an electronic mail?
ParallelAgreeableOrangutan
20:36
@RoyalReadyKiwi: congrats on your A! and your scholarship!!
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