Posts by admin

  fair warning.Criminal law. The requirement that a criminal statute define an offense with enough precision so that a reasonable person can know what conduct is prohibited and so that a reasonably skilled lawyer can predict what conduct falls within the statute’s scope. — Also termed fair notice. [Cases: Criminal Law 13.1(1). C.J.S. Criminal Law…

fair-value accounting method.See ACCOUNTING METHOD.[Blacks Law 8th]

fair value.See fair market value under VALUE(2).[Blacks Law 8th]

fair use.Copyright. A reasonable and limited use of a copyrighted work without the author’s permission, such as quoting from a book in a book review or using parts of it in a parody. • Fair use is a defense to an infringement claim, depending on the following statutory factors: (1) the purpose and character of…

fair-value law.A statute allowing a credit against a deficiency for the amount that the fair market value of land exceeds the price at foreclosure. — Also termed fair-value legislation. [Cases: Mortgages 559(7), 561.7. C.J.S. Mortgages §§ 938, 943, 956.][Blacks Law 8th]

fair-trade agreement.A commercial agreement that a seller will sell all of a producer’s goods at or above a specified minimum price. • Fair-trade agreements were valid until 1975, when the Consumer Goods Pricing Act made them illegal. 15 USCA §§ 1, 45.[Blacks Law 8th]

fair trade,n. Commerce conducted under a fair-trade agreement.[Blacks Law 8th]

fair-share membership.See FINANCIAL-CORE MEMBERSHIP.[Blacks Law 8th]

fair sale.See SALE.[Blacks Law 8th]

fair return on investment.See RETURN.[Blacks Law 8th]