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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.


noun advantage, aestimatio, amount, appraisal, assessment, benefit, caliber, consequence, cost, desirability, effect, equivalent, esteem, estimate, estimation, excellence, expense, force, impact, importance, merit, price, purport, quality, quotation, significance, substance, superiority, use, usefulness, utility, valuation, worth, worthiness
Associated concepts: acquisition value, actual cash value, accual market value, appraised value, assessed value, book value, cash market value, cash surrender value, current market value, face value, fair and reasonable value, fair market value, fair value, full cash value, good faith purchaser for value, gross value, highest market value, holder for value, instrument of value, insurable value, intrinsic value, market value, negotiable instrument, nominal value, nuisance value, par value, pecuniary value, present value, probative value, prospective value, purchaser for value, real value, reasonable value, relative value, rental value, reserve value, residual value, retention value, substantial value, sufficient value, surrender value, tangible value, taxable value, transser for value, true value, value received
Foreign phrases: Libertas non recipit aestimationem.Freedom does not admit a valuation. Tantum bona valent, quantum vendipossunt. Goods are worth as much as they are sold for. Res per pecuniam aestimatur, et non pecunia per rem. The value of a thing is estimated according to its worth in money, but the value of money is not estimated by reference to propprty. Sapientia legis nummario pretio non est aestimanda. The wisdom of the law cannot be computed in money value.
See also: amount, appraise, assess, calculate, caliber, charge, consequence, cost, criticize, degree, emphasis, estimate, evaluate, expense, face amount, gauge, honor, importance, judge, magnitude, materiality, measure, merit, par, prefer, price, quality, rate, recommend, regard, significance, signification, sum, utility, weight, worth

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.

References in periodicals archive ?
For example, 36% of subjects had a reduced baseline FEV, not more than 75% of the reference value.
International Federation of Clinical Chemistry (IFCC) Expert Panel on Theory of Reference Values.
This study compares different methods of determining PT reference values in a tissue microarray-based breast cancer biomarker EQA proficiency testing program, and examines the consequences that the selection of reference value has on participating laboratories scores, including calculated agreement rates, test sensitivity and specificity, positive and negative predictive values, and [kappa] values for each participating laboratory.
The objectives of this study were to: (1) determine trace element concentrations in moose (liver and kidney) and deer (liver) tissue from Nova Scotia; (2) for each trace element, examine the species-specific relationship between tissue concentration and age, gender, and geographic region; (3) compare trace element concentrations found in Nova Scotia moose and deer to each other, to other free-ranging cervid populations, and to reference values for domestic cattle; and (4) discuss whether trace element imbalances may be contributing to the decline of the mainland population of moose in Nova Scotia.
Hardness and Mooney viscosity show no significant deviation from the reference values.
In this article, we will focus on the comparisons of data measured in the laboratory to reference values.
Central reference values are created as an automatic correction mechanism for any drift in absolute and relative values between flow cells or for any bias between individual flow-cells.
Reference values for additional vitamins, protein, calories, aflatoxins, amino acids, etc.
In use, 20ml of oil is poured into the funnel at the top of the machine, heated to a known temperature and the machine then measures the time taken for a metal piston to fall through the oil, comparing it with an in-built set of reference values.
associate professor of epidemiology at the University of Pittsburgh Graduate School of Public Health, has conducted research showing that using such female-specific reference values can miss a significant number of osteoporosis cases among men.
The values for the characteristic spectra emitted by each sample are compared by a computer against 100 sets of reference values previously calculated for fresh juice from every major citrus region marketing orange juice in the United States.