marketable


marketable
Salable. Such things as may be sold in the market; those for which a buyer may be found; merchantable
@ marketable securities
Stocks and bonds held of other companies that can be readily sold on stock exchanges or over-the-counter markets and that the company plans to sell as cash is needed. Classified as current liquid assets and as part of working capital
@ marketable title
A title which is free from encumbrances and any reasonable doubt as to its validity, and such as a reasonably intelligent person, who is well informed as to facts and their legal bearings, and ready and willing to perform his contract, would be willing to accept in exercise of ordinary business prudence. Sinclair v. Weber, 204 Md. 324, 104 A.2d 561, 565.
Such a title as is free from reasonable doubt in law and in fact; not merely a title valid in fact, but one which readily can be sold or mortgaged to a reasonably prudent purchaser or mortgagee; one acceptable to a reasonable purchaser, informed as to the facts and their legal meaning, willing to perform his contract, in the exercise of that prudence which businessmen usually bring to bear on such transactions; one under which a purchaser may have quiet and peaceful enjoyment of the property; one that is free from material defects, or grave doubts, and reasonably free from litigation. Myrick v. Austin, 141 Kan. 778, 44 P.2d 266, 268.
Marketable title is one which is free from reasonable doubt and will not expose party who holds it to hazards of litigation. Tri-State Hotel Co. v. Sphinx Investment Co., 212 Kan. 234, 510 P.2d 1223, 1230.
One that may be freely made the subject of resale. Krulee v. F. C. Huyck & Sons, 121 Vt. 299, 156 A.2d 74, 77.
A marketable title to land is such a title as a court, when asked to decree specific performance of the contract of sale, will compel the vendee to accept as sufficient. It is said to be not merely a defensible title, but a title which is free from plausible or reasonable objections.
See also merchantable title
- clear title; good title; merchantable title
@ Marketable Title Acts
Many states have adopted Marketable Title Acts the purpose of which is to simplify land title transactions through making it possible to determine marketability by limited title searches over some reasonable period of the immediate past (e.g. 40 yrs.) and thus avoid the necessity of examining the record back into distant time for each new transaction
@

Black's law dictionary. . 1990.

Synonyms:

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  • marketable — marketable, marketability An attribute that may or may not be associated with a security. A security is considered to be marketable if it is readily salable to buyers in an active secondary market. As defined by the Office of the Comptroller of… …   Financial and business terms

  • marketable — mar·ket·able / mär kə tə bəl/ adj 1: fit to be offered for sale: being such as may be justly or lawfully sold or bought marketable goods 2: wanted by buyers marketable securities mar·ket·abil·i·ty /ˌmär kə tə bi lə tē/ n …   Law dictionary

  • Marketable — Mar ket*a*ble, a. 1. Fit to be offered for sale in a market; such as may be justly and lawfully sold; as, dacayed provisions are not marketable. [1913 Webster] 2. Current in market; as, marketable value. [1913 Webster] 3. Wanted by purchasers;… …   The Collaborative International Dictionary of English

  • marketable — [mär′kitə bəl] adj. 1. a) that can be sold; fit for sale b) readily salable 2. of buying or selling [marketable value] marketability n …   English World dictionary

  • Marketable — are securities that can be easily converted into cash. Such securities will generally have highly liquid markets allowing the security to be sold at a reasonable price very quickly.This is a usual feature in real estate …   Wikipedia

  • marketable — c.1600, from MARKET (Cf. market) + ABLE (Cf. able). Related: Marketably; marketability …   Etymology dictionary

  • marketable — [adj] easily sold; in demand bankable, commercial, fit, for sale, good, hot*, merchandisable, merchantable, profitable, salable, sellable, selling, sought after, sound, trafficable, vendible, wanted; concepts 334,546 Ant. unmarketable …   New thesaurus

  • marketable — Salable. Such things as may be sold in the market; those for which a buyer may be found; merchantable @ marketable securities Stocks and bonds held of other companies that can be readily sold on stock exchanges or over the counter markets and… …   Black's law dictionary

  • marketable — adjective Date: 1600 1. a. fit to be offered for sale in a market < food that is not marketable > b. wanted by purchasers or employers ; salable < marketable securities > < marketable skills > 2. of or relating to buying or selling • …   New Collegiate Dictionary

  • marketable — [[t]mɑ͟ː(r)kɪtəb(ə)l[/t]] ADJ GRADED Something that is marketable is able to be sold because people want to buy it. What began as an attempt at artistic creation has turned into a marketable commodity... These are marketable skills and will allow …   English dictionary