(redirected from normal values)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.


The estimated or appraised worth of any object or property, calculated in money.

The word value has many meanings and may be used in different senses. Because value is usually a relative term, its true meaning must be determined by the context in which it appears.

Value sometimes expresses the inherent usefulness of an object and sometimes the power of purchasing other goods with it. The first is called value in use, the latter value in exchange. Value in use is the utility of an object in satisfying, directly or indirectly, the needs or desires of human beings. Value in exchange is the amount of commodities, commonly represented by money, for which a thing can be exchanged in an open market. This concept is usually referred to as market value.

Courts have frequently used the word value without any clear indication of whether it referred to value in use or market value. Generally, however, the courts and parties in civil actions are concerned with market value. Though courts may refer to salable value, actual value, fair value, reasonable value, and cash value, these terms are synonymous with market value.

Value is also employed in various phrases in business and commercial usage. The phrase actual cash value is used in insurance to signify the cost of purchasing new replacement property less normal depreciation, though it may also be determined by the current market value of similar property or by the cost of replacing or repairing the property. Cash surrender value is used in life insurance to refer to the amount that the insurer will pay the policyholder if the policy is canceled before the death of the insured.

Book value is the value at which the assets of a business are carried on the company's books. The book value of a fixed asset is arrived at by subtracting accumulated depreciation from the cost of the asset. Book value may also refer to the net worth of a business, which is calculated by subtracting liabilities from assets. Liquidation value is the value of a business or an asset when it is sold other than in the ordinary course of business, as in the liquidation of a business.

In the Stock Market, par value is the nominal value of stock; it is calculated by dividing the total stated capital stock by the number of shares authorized. Stated value is the value of no par stock established by the corporation as constituting the capital of the corporation.


Fair Market Value.

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

VALUE, common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange.
     2. Value differs from price. The latter is applied to live cattle and animals; in a declaration, therefore, for taking cattle, they ought to be said to be of such a price; and in a declaration for taking dead chattels or those which never had life, it ought to lay them to be of such a value. 2 Lilly's Ab. 620.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Group 2 patients showed a statistically significant increase in the levels of endothelin-1 and decrease in the levels of stable NO metabolites compared with control group, but deviation from the normal values was significantly lower than in group 1 patients.
Kaplan-Meier results showed that all patients returned to normal values in all the altered parameters at any time of the follow-up with the exception of two subjects (96.6%; see Figure 1).
In addition to providing coefficients for the normal values, statistically sound coefficients for the lower limit of normal (LLN) are included.
Thyroid function tests were as follows: free thyroxine: >100 pmol/L (normal values: 12-22 pmol/L), free triiodothyronine: 27.73 pmol/L (normal values: 3.1-6.8 pmol/L); and thyroid-stimulating hormone ITSH): less than 0.005 uIU/mL (normal values: 0.27-4.2 uIU/mL).
She challenged delegates to think about the influences of their own up-bringing on what they understood to be normal values and beliefs.
In simple zeroing, Commerce compares the prices of individual export transactions against monthly weighted average normal values, and disregards the amounts by which the export prices exceed the monthly weighted average normal values when aggregating the results of the comparisons.
In contrast, those who had memory impairment but normal values for amyloid-beta and tau did not run a higher risk of getting the disease than healthy individuals.
Amongst the 138 evaluable patients, there were only 4 patients who had normal values for all the three hormones i.e.
An ideal textbook for veterinary students, this superbly organized, 'user friendly', alphabetically arranged, 763-page encyclopedia reference with its focus on medical issues associated with dogs and cats includes all of the basic tools utilized in veterinary practice; diagnostic procedures; tests and treatments; medications; medical follow-up; appendices providing tables of laboratory normal values, therapeutic drug monitoring, and referral laboratories; and a comprehensive index.
The 13% of participants with low values, the 5% with high values, and the 2% with non-compressible arteries had a significantly higher number of cardiovascular events than those with normal values. Non-compressible arteries carried a particularly high risk of stroke and congestive heart failure.
Regarding safety, blood tests for clinical parameters in 2057 patients treated with H15 over a period of 6 years, comparing values before therapy onset with those at the end of treatment, are not significantly different from normal values. There were not any indications for organotoxic effects (Buvari, P.G.
The user controls definition of test, work list, and normal values. This LIS interfaces to laboratory instruments, billing systems, and physician-office billing systems.