There are numerous types of valuations applicable to financial instruments and to promissory notes —here are some: Investment Value, Intrinsic Value, Book Value, Face Value, Market Value, Perceived Value, Subjective Value, Liquidation Value Cash Value, Forced Sale Value and Fair Market Value. This discussion is limited to Fair Market Value-FMV. Fair Market Value–Importance Fair Market Value (FMV) is the value that the Internal Revenue Service (IRS) is searching for.
