market price
Defined in 5 dictionaries — Case Law, Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910)
Definitions from Case Law
From 173 U.S. 509 - Nicol v. Ames · 1899Most cited · 353 citing opinions
really the 'exchange price.' That an enormous amount of the business of the country which is engaged in the distribution of the commodities grown or produced therein is transacted and takes place through the medium of boards of trade or exchanges cannot be doubted.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
See "Market Value."
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
See Mabket Value.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The actual price at which the given commodity is currently sold, or has recently been sold, in the open market, that is, not at a forced sale, but in the usual and ordinary course of trade and competition, between sellers and buyers equally free to bargain, as established by records of late sales. See Lovejoy v. Michels, 88 Mich. 15, 49 N. W. 901, 13 L. R. A. 770; Sanford v. Peck, 63 Conn. 486, 27 Atl. 1057; Douglas v. Merceles, 25 N. J. Eq. 147; Par-menter v. Fitzpatrick, 135 N. Y. 190, 31 N. E. 1032. The term also means, when price at the place of exportation is in view, the price at which articles are sold and purchased, clear of every charge but such as ls laid upon it at the time of sale. Goodwin v. United States, 2 Wash. O. C. 493, Fed. Cas. No. 5,554.
Defined under Market in Black's Law Dictionary.