par

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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.

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