market value
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 292 U.S. 246 - Olson v. United States · 1934Most cited · 1,811 citing opinions
condemnation
that value may be deemed to be the sum which, considering all the circumstances, could have been obtained for it; that is, the amount that in all probability would have been arrived at by fair negotiations between an owner willing to sell and a purchaser desiring to buy
How the Supreme Court has restated “market value”
Each Supreme Court definition of “market value,” sized by how often later courts cited it. “Change” is measured by wording overlap with earlier definitions — a rough signal, not a semantic judgment.
How often courts cite the cases defining “market value”
Court decisions citing the 5 opinions that defined “market value” — 3,729 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 5 definitions, chronological · 1925–1970
- ORIGINAL
The value of the vessel lost properly may be taken to be the sum which, considering all the circumstances, probably could have been obtained for her on the date of the collision; that is, the sum that in all probability would result from fair negotiations between an owner willing to sell and a purchaser desiring to buy.
The test of market value is at best but a convenient means of getting at the loss suffered. It may be discarded and other more accurate means resorted to, if, for special reasons, it is not exact or otherwise not applicable.
as damages test
The most profitable use to which the land can probably be put in the reasonably near future may be shown and considered as bearing upon the market value; and the fact that such use can be made only in connection with other lands does not necessarily exclude it from consideration if the possibility of such connection is reasonably sufficient to affect market value.
condemnation — most profitable use
the owner is entitled to the fair market value of the property at the time of the taking
condemnation