Also known as: true values · fair market value · actual value
Written by attorneys · grounded in primary & secondary sources — see below
A price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Trevor Tate, a commercial tenant, validly terminates his lease after the landlord fails to maintain the premises. At termination the court measures Trevor's damages by the true value of the remaining lease term on the open market. The landlord must pay that amount to compensate for the lost bargain.
After appointment, the personal representative of Theresa Tucker's estate prepares the required inventory. For each asset the representative lists its true value as of the date of death together with any encumbrances. The inventory is then mailed to interested persons who request a copy.
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Investors in Tidal Energy stock allege that misleading statements inflated the trading price. The court recognizes that the stock's true value, distinct from the distorted market price, supplies the benchmark for measuring damages once corrective disclosure occurs.
Valley Forge Christian College receives surplus federal property and later sells a portion. Challengers claim the transfer violates the Establishment Clause. The court examines whether the plaintiffs suffered any concrete injury measured by the true value of the property they allegedly lost.
Corporate insiders at Terra Financial learn of a major mineral discovery and trade on the information. The court assesses whether the undisclosed facts would have altered the stock's true value, thereby rendering the information material to reasonable investors.
Shareholders of TechVista Solutions sue after a sudden drop in stock price. The complaint must allege facts giving rise to a strong inference that defendants knew the reported figures deviated materially from the company's true value at the time of the statements.
True value is the objective fair market value of what the plaintiff received. The difference between that amount and the price paid constitutes the basic out-of-pocket loss recoverable under the Restatement measure of damages for deceit.
The inventory must reflect the fair market value of each listed item as of the date of the decedent's death. Later fluctuations in market price are irrelevant to the initial filing requirement.
Yes. The debtor may request a judicial determination of the property's fair market value as of the foreclosure sale date. Any excess of that value over the sale price offsets the deficiency claim.
The ordinary measure is the fair market value at the time and place of conversion. A timely, good-faith tender of equivalent goods of substantially the same value may reduce the recovery if the court finds the conditions for mitigation are met.
…the city has “taken” their right to this superjacent airspace, thus entitling them to “just compensation” measured by the fair market value of these air rights. Apart from our own disagreement with appellants’ characterization of the effect of the New York City law, see infra , at 134-135, the submission that appellants may…