fair market value
Definition
The price that an interested but not desperate buyer would be willing to pay and an interested but not desperate seller would be willing to accept on the open market assuming a reasonable period of time for an agreement to arise.
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Related Terms
arm's length price, fair value
'fair market value
' appears in the definitions of these terms on BusinessDictionary.com capital lease, bargain purchase option, boot, credit risk equivalent, eminent domain, and 
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