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(accounting, economics) A rational, unbiased estimate of the potential market price of goods, services, or assets, taking into account both objective factors (such as production and distributions costs) and subjective factors (such as risks and supply vs. demand).

The fair value of the asset was determined through a thorough market analysis.

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pass by value

noun

(programming) Alternative form of call by value

In pass by value, a copy of the value is passed to a function.

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pass-by-value

noun

(programming) Alternative form of call-by-value

In pass-by-value, a copy of the value is passed to a function.

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call by value

noun

(programming) Alternative form of call-by-value

In call by value, the value of the argument is copied and passed to the function.

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diminished value

noun

(law, insurance) A compensable loss in a property item's value after having been damaged and subsequently repaired or, in the case of a construction, having been constructed improperly or not according to contract.