- The amount by which the assets of a business as a whole, assembled for the conduct of the business, exceeds the aggregate of the value of the separate items of property in the business. Pacific State Sav. & Loan Co. v Hise, 25 Cal 2d 822, 155 P2d 809, 158 ALR 955. The aggregate value of items of property in a place of business, not as isolated articles separated from the whole, but as parts of the whole business and as useful in the business. Re Nathanson Bros. Co. (CA6 Ohio) 64 F2d 912. The value of the plant of an established business as distinguished from the plant of a concern whose business is not yet established. 43 Am J1st Pub Util § 139. A term in common use in the fixing of rates for the service of public utility companies, meaning the value of the plant as a whole upon which the company is entitled to a fair return, as distinguished from its bare physical value. Pioneer Tel. & Tel. Co. v State, 64 Okla 304, 167 P 995. Used as a test of determining solvency or insolvency, the term may have two distinct meanings: it may denote (1) the value which could be realized by a sale of an enterprise as an operating unit as opposed to piecemeal liquidation; or (2) the value of the enterprise to its owners. Anno: 158 ALR 968.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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