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

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

fairly-debatable rule. 1.Insurance. In some states, a test that requires an insurer to have a plausible basis for denying a claim to avoid bad-faith liability. [Cases: Insurance 3336. C.J.S. Insurance §§ 1163, 1342, 1576, 1578–1581.] 2.Zoning. A doctrine that bars a court from interfering with a zoning decision that is supported by substantial evidence, although…

Fair Labor Standards Act.A federal law, enacted in 1938, that regulates minimum wages, overtime pay, and the employment of minors. 29 USCA §§ 201–219. — Abbr. FLSA. [Cases: Labor Relations 1102. C.J.S. Labor Relations § 1018.][Blacks Law 8th]

fair hearing.See HEARING.[Blacks Law 8th]

fair dealing,n.1. The conduct of business with full disclosure, usu. by a corporate officer with the corporation. [Cases: Corporations 314, 316. C.J.S. Corporations §§ 507, 510.] 2. A fiduciary’s transacting of business so that, although the fiduciary might derive a personal benefit, all interested persons are fully apprised of that potential and of all other…

fair-cross-section requirement.Constitutional law. The principle that a person’s right to an impartial jury, guaranteed by the Sixth Amendment, includes a requirement that the pool of potential jurors fairly represent the composition of the jurisdiction’s population. • The pool of potential jurors need not precisely match the composition of the jurisdiction. But the representation of each…

fair-credit-reporting act.A federal or state law that regulates the keeping of credit reports and ensures the right of consumers to get and correct their credit reports. • The federal Fair Credit Reporting Act was enacted in 1970. 15 USCA §§ 1681–1681u. [Cases: Credit Reporting Agencies 1–4. C.J.S. Credit Reporting Agencies; Consumer Protection §§ 2–22. [Blacks Law…

Fair Credit Billing Act.A federal law that facilitates the correction of billing errors by credit-card companies and makes those companies more responsible for the quality of goods purchased by cardholders. 15 USCA §§ 1666–1666j. [Cases: Consumer Credit 30. C.J.S. Interest and Usury; Consumer Credit §§ 317–318.][Blacks Law 8th]

fair consideration.See CONSIDERATION(1).[Blacks Law 8th]