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Friday, April 23, 2004

Friday on my mind

Hello out there, blog fans. Sorry to have neglected you today. I've been writing, writing, writing like a madman -- just not here (aside from answering a few comments). Slightly less fascinating stuff, like this:

Figure 1 presents a diagram of the fair market value analysis, with the willing buyer's and seller's expectations (along with their knowledge and their goals) being the driving forces brought to the hypothetical sale. When the subsequent events relate to the condition or quality of the subject asset, such as the fragile earning power or "looming" liquidity problems of SSE in Okerlund, their probative value depends on the expectations of the hypothetical parties. These events prove value only to the extent that they might have been expected -- that is, anticipated or predicted -- by the willing buyer and seller as they sat down at the bargaining table. Thus, their relevance and weight should be analyzed along the lines of the diagram in Figure 2.
Now it's time to go answer some students' questions about the arcane and complex tax laws that I've been telling them about for the past 14 weeks. When I return home, I believe a crash on the couch to "watch some basketball" (shorthand for a long nap) will be in order.

By the time I awake, we all will be deep into our weekend. God bless us, every one, let's have a great couple of days.

Comments (2)

Thanks for reminding me why law school is a bad idea for me.

So is the difference between Fig 1 & 2 buyer/seller remorse? This is a surprisingly common element of property tax cases where sometimes the taxpayer's best argument is to claim they were actually an idiot to have paid "so much" for the property. See, Gall v. Yamhill Co. & DOR . . .

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