Unit of Value
/ˈjuː.nɪt əv ˈvæl.juː/
Definitions
- (n.) A standard measure used to express the worth or value of goods, services, or property in legal and economic contexts.
The contract specified the unit of value for each commodity sold.
- (n.) A monetary or accounting measure adopted by law or policy to quantify obligations, prices, or damages.
The court determined damages based on the prescribed unit of value in currency.
Forms
- units of value
Related terms
See also
Commentary
In drafting, clarity about which 'unit of value' applies—whether monetary, contractual, or abstract—is important to avoid ambiguity in valuation or damages calculations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.