Law Dictionary Definitions

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]

fair competition.See COMPETITION. [Blacks Law 8th]

fair comment.A statement based on the writer’s or speaker’s honest opinion about a matter of public concern. • Fair comment is a defense to libel or slander. [Cases: Libel and Slander 48(1). C.J.S. Libel and Slander; Injurious Falsehood §§ 91–92, 96, 98, 102–104.][Blacks Law 8th]

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

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

fair averaging.The process of assessing taxes by using the average of the amount and price of goods acquired over a 12-month period rather than the amount and price at a particular time of the year.[Blacks Law 8th]