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Par

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.

par

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)

par

(Equality), noun aequalis, aequus, balance, equal footing, equal value, equal worth, equality, equalness, equipollence, equivalence, evenness, identicalness, interchangeableness, likeness, sameness, similarity
Associated concepts: above par value, at par value, par value of stock

par

(Face amount), noun amount, appraisal, evaluation, face value, market price, price, rate, valuation, value, value in exchange, worth
See also: worth

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.

References in periodicals archive ?
A member of GREEN CREATIVE'S Generation 3 PAR family, this lamp's design and performance upgrades set it apart from traditional LED PAR lamps.
Available in a 17-W version, the lamps are alternatives for up to 90-W halogen PAR lamps.
We replaced those lamps with dimmable 24-W Solais LED PAR lamps, saved 95 percent in energy, increased illuminance by 20 percent and achieved an ROI of four months.
LedEngin's new LuxPAR family of lamps satisfies pent-up market demand for LED PAR lamps that deliver Lux on Target with superior levels of light quality, visual comfort, color rendering and energy efficiency," said David Tahmassebi, CEO, LedEngin, Inc.
Several companies have started to come out with spot units (lekos) in LED and they are slowly becoming a viable option, not yet for front light, but for side light with a bit more control than PAR lamps.
In addition, GLI-qualified Array LED bulbs replaced the front service counter PAR lamps.
Some of us have had field experience regarding problems with short life of drivers; catalytic capacitors that fail thermally, mostly from mutual heating effects; circuits opening because of low power factor and excess harmonic currents; and units that are used outdoors though not suitable nor UL-listed for wet locations, not to mention claims of lumen outputs that don't meet published data and claims of equivalency in output to MR16 and PAR lamps that are wildly exaggerated.
With dimmable PAR lamps the lobby can be a formal reception area or an informal meeting place," says Peiniger.
Halogen PAR lamps are a big energy consumer, but you just can't achieve the same look with anything else.
She likens the current paradigm shift to the switch from PAR lamps to MR16s in the mid-1980s.