Fair Value
Defined in 1 dictionary — Bouvier (1914)
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
In a contract by a city to purchase a waterworks plant at “fair and equitable value,” the amount is to be determined not by capitalization of the earnings nor limited to the cost of reproducing the plant, but allowance should be made for the additional value created by connection with and supply of buildings, although the company did not own Ithe connections. National Waterworks Co. v. Kansas Qity, 62 Fed. 863, 10 C. C. A. 653.