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Standards of Value covers the underlying assumption in many of the prominent standards of value, including Fair Market Value, investment value, and fair value. It discusses the specific purposes of the valuation, including divorce, shareholders? oppression, financial reporting, and how these standards are applied.
List of contents
From the contents:
Acknowledgments.
Foreword.
Preface.
Introduction: Standards of Value.
1 Common Standards and Premises of Value.
Common Standards and Premises.
Price, Value, and Cost.
Defining a Standard of Value.
Premises of Value.
Common Standards of Value.
Fair Market Value.
Fair Value.
Investment Value.
Intrinsic Value.
Book Value.
Common Operational Premises Underlying the Standard of Value.
Going Concern.
Liquidation Value.
Other Issues.
Fair Value in Alternate Contexts.
Fair Market Value in Alternate Contexts.
Standards of Value in the International Context.
Summary.
2 Fair Market Value in Estate and Gift Tax.
Introduction.
Common Definitions of Fair Market Value.
History of Fair Market Value.
Elements of Fair Market Value.
Price at Which a Property Would Change Hands.
Willing Buyer.
Willing Seller.
No Compulsion to Buy or Sell.
Reasonable Knowledge of Relevant Facts.
Common Discounts.
Summary.
3 Fair Value in Shareholder Dissent and Oppression.
Introduction.
Fair Value.
Early References to Fair Value.
Fair Value as Defined by Various Authorities and Statutes.
Overview and History.
Growth in Popularity of the Appraisal Remedy.
Context of Modern Appraisal Rights.
Oppression Remedy.
Development of Oppression Remedy.
Alternative Remedies.
Context of Oppression Remedy.
Freeze-Outs and Squeeze-Oouts.
Recognizing Oppression.
Reasonable Expectations.
Breach of Fiduciary Duty.
Heavy-Handed and Arbitrary or Overbearing Conduct.
Standard of Value in the 50 States.
Breaking Down the Components of Fair Value.
Before the Effectuation of the Corporate Action to Which the Shareholder Objects.
Excluding Any Appreciation or Depreciation in Anticipation of the Corporate Action Unless Exclusion Would Be Inequitable.
Current and Customary Valuation Techniques.
Discounts and Premiums.
Level of Value.
Other Shareholder Level Discounts.
Entity-Level Discounts.
Control Premiums.
Extraordinary Circumstances.
Equitable Adjustments
