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Definition of fair market value noun from the Oxford Advanced Learner's Dictionary

fair market value

noun
 
/ˌfeə ˌmɑːkɪt ˈvæljuː/
 
/ˌfer ˌmɑːrkɪt ˈvæljuː/
[uncountable] (especially North American English)
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  1. the price for an item that both a buyer and a seller would consider to be fair
    • She hired an agent to assess the fair market value of the property.
trait
noun
 
 
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