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In Commercial Law, equal; equality.

The term par refers to an equality that exists between the nominal or face value of a document—such as a bill of exchange or a share of stock—and its actual selling value. When the values are equal, the share is said to be at par; if it can be sold for more than its face value, it is above par; if it is sold for less than its nominal value, it is below par.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. 1) equal. 2) the face value of a stock or bond, printed on the certificate, which is the amount the original purchaser paid the issuing corporation. However, most common stocks are issued as "no-par value," and the value reflects the current market for the stock. Preferred stocks state a par value upon which the dividends are calculated, and the par value of bonds establishes the final pay-off amount upon maturity, usually many years in the future. (See: stock, common stock, preferred stock)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

PAR, comm. law. Equal. It is used to denote a state of equality or equal value. Bills of exchange, stocks, and the like, are at par when they sell for their nominal value; above par, or below par, when they sell for more or less.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
He said: 'The performance of the entire team was below par and the strikers wasted several clear cut chances.
This is the lowest the stock has fallen since January 2003, with the bank's market capitalisation now standing at Sh1.83 billion, having gone down by more than half from S billion at the beginning of the year when the share was valued at Sh10.40."HF Group in closing below par value for the first time joins Deacons, Mumias, Sameer, Uchumi, Home Afrika, Olympia Capital and Stanlib Fahari I-Reit," said Standard Investment Bank in a daily market report.Although there are no laws barring a company from trading below par value or penalising such occurrence, the down side would be a hit on investor confidence in the stock, as has been the case with the likes of Mumias, Deacons and Home Africa whose shares are now trading in cents at the bourse.
'PHF president and secretary are solely responsible for the team below par performance in the Asian Games whose policies have resulted in the game's downfall, ' he said.
"Check-ups have seen no sign of cancer but the treatment has left me well below par and it will be a slow-but-sure process getting me to full strength."
"I think the players have done this absolutely fantastically so far, even if we were below par and we will try to do better against Stoke." | Sunderland have told PS10m midfielder Jack Rodwell they will tear up his contract if he can find another club.
Yes, he has been below par but the whole team have been off the boil since the Man City game where they chased everything, and really wanted a result.
"Where hasn't been decided yet as he's having a bit of a break since his Chepstow episode, where he ran a bit below par.
Summary: Supermarket chain Morrisons has admitted that its Christmas sales were below par after feeling the heat from rivals.
Sydney, Oct 22( ANI ): Young Australia all rounder Glenn Maxwell is confident that taking a few risks while batting in limited overs cricket would help him in his international caree, after getting criticised for his below par showing at the Twenty20 World Cup in Sri Lanka.
"The set-plays were poor and there were one or two players below par. The team looked a little bit incohesive.
5 July 2012 -- German mortgage bank Deutsche Hypothekenbank AG, a unit of Norddeutsche Landesbank Girozentrale (NORD/LB), has sold a EUR100m (USD79.8m) floating-rate note below par, Reuters reported.
"We do acknowledge that and give them credit, but we know that we were a little below par."