A privileged market. 2. In England, fairs are granted by the king’s patent. 3. In the United States, fairs are almost unknown.
Law Dictionary – Alternative Legal Definition
(noun) – In English law. A greater species of market; a privileged market. It is an incorporeal hereditament, granted by royal patent, or established by prescription presupposing a grant from the crown. In the earlier English law, the franchise to hold a fair conferred certain important privileges; and fairs, as legally recognized institutions, possessed distinctive legal characteristics. Most of these privileges and characteristics, however, are now obsolete. In America, fairs, in the ancient technical sense, are unknown, and, in the modern and popular sense, they are entirely voluntary and non-legal, and transactions arising in or in connection with them are subject to the ordinary rules governing sales, etc.
(adjective) – Just; equitable; even-handed ; equal, as between conflicting interests. Fair abridgment. In copyright law. An abridgment consisting not merely in the arrangement of excerpts, but one involving real and substantial condensation of the materials by the exercise of intellectual labor and judgment. Folsom v. Marsh. 9 Fed. Cas. 345. Fair consideration. In bankruptcy law. One which is honest or free from suspicion, or one actually valuable, but not necessarily adequate or a full equivalent. Myers v. Fulcs, 124 Iowa, 437, 100 N. W. 351. Fair-play men. A local irregular tribunal which existed in Pennsylvania about the year 1769, as to which see Serg. Land Laws Pa. 77; 2 Smith, Laws Pa. 195. Fair pleader. See BEAU-PLEADER. Fair preponderance. In the law of evidence. Such a superiority of the evidence on one side that the fact of its outweighing the evidence on the other side can be perceived if the whole evidence is fairly considered. Bryan v. Railroad Co., 63 Iowa, 464, 19 N. W. 295; State v. Grear. 29 Minn. 225. 13 N. W. 140. Fair sale. In foreclosure and other judicial proceedings, this means a sale conducted with fairness and impartiality as respects the rights and interests of the parties affected. Lalor v. McCarthy, 24 Minn. 419. Fair trial. One conducted according to due course of law; a trial before a competent and impartial jury. Railroad Co. v. Cook. 37 Neb. 435, 55 N. W. 943; Railroad Co. v. Gardner, 19 Minn. 136 (Gil. 99), 18 Am. Rep. 334.