Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Asset value
see net asset value.
Value
n. 1. The monetary worth or price of something; the amount of goods, services, or money that something will command in an exchange.
Valuer
See APPRAISER.
acirjusted present value
An asset's value determined by adding together its present value and the value added by capital-structure effects. - Abbr. APV.
actual cash value
Insurance. 1. Replacement cost minus normal depreciation. 2. See fair market value.
actual cash value.
See fair market value under VALUE.
actual market value
See fair market value.
actual market value.
See fair market value under VALUE.
actual value
See fair market value.
actual value.
See fair marked value under value
actuarial present value
The amount of monf , necessary to purchase an annuity that wougenerate a particular monthly payment, whatever periodic payment the plan provide for the r.x°-,~t,•,R recipient
adjusted book value
Inventory value adjusted to reflect the inventory's current actual value.
adjusted book value.
See BOOK VALUE.
adjusted present value.
See PRESENT VALUE.
agreed value
A property's value that is fixed by agreement of the parties with the property. An example is a list of property values contained in an insurance policy.
annual value
1 The net yearly income derivable from a given piece of property. 2. One year's rental value of property, less costs and expenses.
bona fide holder for value.
See HOLDER FOR VALUE.
bona fide purchaser for value
One who purchases legal title to real property, without actual or constructive notice of any infirmities, claims, or equities against the title. Generally, a bona fide purchaser for value is not affected by the transferor's fraud against a third party, and has a superior right to the transferred property as against the transferor's creditor to the extent of the consideration that the purchaser has paid. - Also termed innocent purchaser for ualue.
bona fide purchaser for value.
See PURCHASER (1).
book value
See BOOK VALUE.
book-value stock
Stock offered to executives at a book-value price, rather than at its market value. ( The stock is offered with the understanding that when its book value has risen, the company will buy back the stock at the increased price or will make payments in stock equal to the increased price.
cash surrender value
Insurance. The amount of money payable when an insurance policy having cash value, such as a whole-life policy, is redeemed before maturity or death. - Abbr. CSV. - Also termed surrender value.
cash value
See full cash value.
cash-value option
. The right of a life-insurance policyholder to surrender the policy for its cash value at a specified time or at any time. commodity option. An option to buy or sell a commodity. futures option. An option to buy or sell a futures contract.
clear annual value
See VALUE.
clear market value
See fair market value under VALUE.
clear value
See VALUE.
commuted value
1. In the assessment of damages, the present value of a future interest in property. 2. The value of future payments when discounted to present value.
conversion value
A convertible security's value as common stock. ( For example, a bond that can be converted into ten shares of stock worth $40 each has a conversion value of $400. See BOND CONVERSION.
current market value
The price at which an asset can be sold within the present accounting period.
diminution-in-value method
A way of calculating damages for breach of contract based on a reduction in market value that is caused by the breach.
double value
Twice the value of something; specif., a penalty payable by a tenant to a landlord of twice the yearly value of lands held by the tenant, who refused to leave when the landlord provided written notice of intent to possess the property. ( The penalty was provided under the Landlord and Tenant. Act (1730). St. 4 Geo. 2. ch. 28, s. 1.
exercise value
The value to an optionholder of using the option.
exhibition value
In the motion-picture industry, the minimum receipts that distributors expect to realize from showing a particular film. - Also termed minimum sale; price expectancy.
face value
See FACE AMOUNT.
fair and reasonable value
See fair market value under VALUE.
fair cash market value
See fair market value under VALUE.
fair cash value
See fair market value under VALUE.
fair market value
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; the point at which supply and demand intersect. - Abbr. FMV. - Also termed actual value; actual cash value; actual market value; cash value; clear market value; fair and reasonable value; fair cash market value; fair cash value; fair market price; fair value; full value; just value; market value; salable value; true value. "[A] forced sale price is not fair value though it may be used as evidence on the question of fair value. Likewise, the fair value of saleable assets is not what they would sell for in the slow process of the debtor's trade as if the debtor were continuing business unhampered. The general idea of fair value is the amount of money the debtor could raise from its property in a short period of time, but not so short as to approximate a forced sale, if the debtor operated as a reasonably prudent and diligent businessman with his interests in mind, especially a proper concern for the payment of his debts." David G. Epstein et al., Bankruptcy § fr18, at 307 (1993).
fair value
See fair market value.
fair-value accounting method
See ACCOUNT. ING METHOD.
fair-value accounting method.
The valuation of assets at present actual or market value.
fair-value law
A statute allowing a credit against a deficiency for the amount that the fair market value of land exceeds the price atforeclosure Also termed fair-value legislation.
full cash value
Market value for property tax purposes; estimated value derived by standard appraisal methods. - Also termed cash value.
full value
See fair market value.
full value.
See fair market value under VALUE.
future value
The value, at some future time, of a present sum or a series of payments of money, calculated at a specific interest rate.
future value.
See VALUE,
going-concern value
The value of a commercial enterprise's assets or the enterprise itself as an active business with future earning power, as opposed to the liquidation value of the business or its assets. ( Going-concern value includes, for example, goodwill. - Also termed going value. Cf. GOODWILL.
highest proved value
In a trover action, the greatest value (as proven by the plaintiff) that the converted property reached from the time of the conversion until trial. ( This is the most that a plaintiff is entitled to recover.