How is Reasonable Value defined in a legal contract?
- Reasonable Value means the price that is agreed upon during good faith negotiations between a knowledgeable and willing buyer and a knowledgeable and willing seller. Seen in 4 SEC filings
- Reasonable Value means a commercially reasonable value which is likely to motivate an average customer to complete a qualifying transaction. Seen in 2 SEC filings
- Reasonable Value means the value established by the department under specific sections. Seen in 2 SEC filings
- Reasonable Value means the price or cost recommended by a reputable and impartial appraiser to a potential buyer, considering the current conditions. Seen in 1 SEC filing
- Reasonable Value means the value of a dissenter's shares just before the corporate action that prompted the dissent, excluding any potential ups and downs in value that could've been anticipated due to the corporate action, unless not doing so would be unfair. However, for membership shares of a community service cooperative or an association subject to certain sections, it must not exceed the amount paid up on those member's membership shares. Seen in 1 SEC filing
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Reasonable Value means the agreed price between a knowledgeable buyer and seller, during good faith negotiations.
Relevant Contract Types
Relevant Circumstances
- Sale of a physical property
- Buying a business
- Purchasing goods or services
Relevant Sectors
Genie Definition 2
- Reasonable Value means the value of a dissenter's shares just before a corporate action, with potential value changes excluded unless inequitable.
Relevant Contract Types
Relevant Circumstances
- Corporate dissolution
- Corporate mergers and acquisitions
- Major changes in company policy
Relevant Sectors
Genie Definition 3
- Reasonable Value means a motivating commercially reasonable value for a customer to complete a transaction.
Relevant Contract Types
Relevant Circumstances
- B2C transactions
- E-commerce sales
- Service offerings
Relevant Sectors
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Reasonable Value means the agreed price between a knowledgeable buyer and seller, during good faith negotiations.
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