9:32
[kevin oleary]
Simple English definitions for legal terms
Read a random definition: forthcoming
Definition: Just value is the same as fair market value, which is the price that a seller is willing to accept and a buyer is willing to pay on the open market and in an arm's-length transaction. It is the point at which supply and demand intersect.
Examples:
These examples illustrate how just value is determined through negotiation between a buyer and seller in a fair and open market. It is the price that both parties agree is reasonable for the item being sold.