market value
Defined in 6 dictionaries — Case Law, U.S. Code, Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910)
Definitions from Case Law
From 292 U.S. 246 - Olson v. United States · 1934Most cited · 1,811 citing opinions
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
United States Code
12 U.S.C. § 1441A — under this section
The term “market value” means the most probable price which a property should bring in a competitive and open market if—
(I) all conditions requisite to a fair sale are present,
(II) the buyer and seller are acting prudently and are knowledgeable, and
(III) the price is not affected by any undue stimulus.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The price established by public sales, or sales in the way of ordinary business, 99 Mass. 345; what the property will sell for as between one who wants to purchase and one who wants to sell. 151 Wis. 224.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
A price established by public sales, or sales in the way of ordinS’ry business, as of merchandise. Murray V. Stanton, 99 Mass. 348; Wehle v. Haviland, 69 N. Y. 448. The market value is to be determined by the general market value of goods without regard to special advantages which the importer may enjoy; and in ascertaining that value, it is proper in some instances to consider the cost of production, including such items of expense as designs, salary of buyer, clerk hire, rent, interest, and percentage on the aggregate cost of the business in tariff law cases; Muser v. Magone, 155 U. S. 240, 15 Sup. Ct 77, 39 L. Ed. 135. When referring to the value of an article at the place of exportation, it means the price at which such articles are sold and purchased, clear of every charge, but such as is laid upon it at the time of sale. Goodwin
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The market value of an article or piece of property is the price which it might be expected to bring if offered for sale in a fair market; not the price which might be obtained on a sale at public auction or a sale forced by the necessities of the owner, but such a price as would be fixed by negotiation and mutual agreement, after ample time to find a purchaser, as between a vendor who is willing (but not compelled) to sell and a purchaser who desires to buy but is not compelled to take the particular article or piece of property. See Winnipiseogee Lake, etc., Co. v. Gilford, 67 N. H. 514, 35 Atl. 945; Muser v. Magone, 155 U. S. 240, 15 Sup. Ct. 77, 39 L. Ed. 135; Esch, v. Railroad Co., 72 Wis. 229, 39 N. W. 129; Sharpe v. U. S.. 112 Fed. 898, 50 C. C. A 597, 57 L. R. A. 932; Little Rock Junction Ry. v. Woodruff, 49 Aria 381, 5 S. W. 792, 4 Am. St. Rep. 51; Lowe v. Omaha, 33 Neb. 587, 50 N. W. 763; San Diego Land Co. v. Neale, 78 Cal. 63, 20 Pac. 372, 3 L. R. A. 83.
—Market zeld, (properly market geld.) In old records. The toll of a market. Cowell.
Defined under Market in Black's Law Dictionary.