Par

In commercial law. Equal; equality. An equality subsisting betwcen the nominal or face value of a bill of exchange, share of stock, etc., and its actual selling value. When the values are thus equal, the instrument or share ls said to be "at par;" If It can be sold for more than its nominal worth, it is "above par;" if for less, it is "below par." Ft. Edward V. Fish, 156 N. Y. 363, 50 N. E. 973; Evans v. Tillman, 38 S. C. 238, 17 S. E. 49.

— Par of exchange. In mercantile law. The precise equality or equivalency of any given sum or quantity of money in the coin of one country, and the like sum or quantity of money in the coin of any other, foreign country into which it is to be exchanged, supposing the money of such country to be of the precise weight and purity fixed by the mint standard of the respective countries. Story, Bills, § 30. Mnrghy v. Kastner, 50 N. J. Eq. 220, 24 Atl. 564; Hue Star S. S. Co., v. Keyser (I). C.) 8i Fed. 510. The par of the currencies of any two countries means the equivalence of a certain amount of the currency of the one in the currency of the other, supposing the currency of both to be of the precise weight and purity fixed by their respective minis. The exchange between the two countries is said to be at par when bills are negotiated on this footing; i. e., when a bili for £100 drawn on London sells in Paris for 2,520 fra., and vioe versa. Bowen. Pol. Econ. 284.

Lat. Equal.
—Par delictnm. Equal guilt. "This is not a case of par delictum. It is oppression on one side and submission on the other. It never can be predicated as par delictum when one holds the rod and the other bows to it." 6 Maule & S. 165.
—Par oneri. Equal to the burden or charge; equal to the detriment or damage.