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LSDefine

Simple English definitions for legal terms

salable value

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A quick definition of salable value:

Salable value is how much something is worth if you were to sell it on the open market. It's the amount of money that someone is willing to pay for it and what the seller is willing to accept. It's also called fair market value. This is different from how much something might be worth to a specific person or in a specific situation.

A more thorough explanation:

Definition: Salable value refers to the amount of money that something can be sold for in an open market transaction. It is also known as fair market value.

Examples: If you want to sell your car, the salable value would be the price that a buyer is willing to pay for it in an arm's-length transaction. Similarly, if you are selling a house, the salable value would be the price that a buyer is willing to pay for it in the current real estate market.

Explanation: Salable value is determined by the supply and demand of the market. If there are many buyers interested in a product, the salable value will be higher. On the other hand, if there are few buyers, the salable value will be lower. It is important to note that salable value is not the same as the cost of producing or acquiring the item. It is the price that the item can fetch in the market.

salable | salarium

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MrThickRopes
16:33
they splurgin out dem rs nd wls at smu but i din get none
nattyalley
16:38
@Law-Shark: they didn't say we had to go? and if they are willing to buy rooms for a bunch of people. they sent me a res because I was over 50 miles away but I didn't even ask for one
nattyalley
16:42
@Law-Shark: also kind of rude for you to be speaking to me like that, the event started at 9am and I had to wakeup at 4 to drive in. i was tired and couldn't even check in until 4pm if I wanted to so I just drove back. it's unprofessional to offer it the night before and not the day after. they also didn't feed us actual food and we were there until 2pm.
Law-Shark
16:43
The fact you didn't think a reservation in your name is something you need to be responsible for and cancel if you weren't going to show up to by sending a simple email is absolutely iresponsible.
nattyalley
16:43
I didn't make a reservation tho?
ET025
16:44
Yeah, I would have definitely gone to the hotel if I knew they booked a room for me. At the very least, it would be proper to show up personally and explain your extraneous circumstances
Law-Shark
16:44
Nah but it's in your name. I went to an ASD. I asked the school for an extra night and they gave it to me. You just need to plan things better.
Law-Shark
16:45
This is like peak disconenct between the male and female brain.
nattyalley
16:45
i think that's where i was confused then
Law-Shark
16:45
disconnect*
Law-Shark
16:45
You live and you learn
nattyalley
16:45
because i did let one of the staff know i'd be leaving early and thought that would be enough
nattyalley
16:46
but i was confused why i got an e-mail with a room cuz I didn't ask for it at all
Law-Shark
16:46
Well, you know now what to do.
nattyalley
16:47
well on their end they prob shouldn't just be buying hotel rooms for ppl who don't request it and then getting mad I didn't go
nattyalley
16:48
goof
ET025
16:48
Did you get any materials for admitted students day explaining that they would be booking hotel rooms?
nattyalley
16:49
there was an opt in on the form but I didn't select yes
ET025
16:49
Hmm, that's weird
bigfatsloth
16:50
i think it's unprofessional of them to call you like what if you had an emergency and had to leave? why is it their business why you didn't stay? not like they're lacking money and $100.00 hotel room is gona make them bankrupt
nattyalley
16:50
i figured it was an error and I was on the road so I didn't read into it. plus it would make more sense for it to be the night before cuz it started at 9am? so I was like uhhh and paid it no mind
nattyalley
16:51
@bigfatsloth: that's what i'm saying, they were gonna pay no matter what
nattyalley
16:54
"This is like peak disconenct between the male and female brain." like bffr
ET025
16:55
It was probably an administrative error then. I can't imagine why they would book hotel rooms for people that didn't select yes. I would maybe follow up with them and apologize for the misunderstanding to avoid any awkwardness
Denny
16:56
who watch that arsenal game
ET025
16:56
I'm a Chelsea fan unfortunately
NightHawkBird
16:59
damn why are yall fighting i the lsd.law gc
Denny
17:14
@ET025: but ur not watching champions league?
Denny
17:15
declan rice did a madness
ET025
17:20
@Denny: Not today. Doing more LSAT studying this afternoon, but I saw that. I think Chelsea missed out on him. (this is probably more suited for OT)
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