Terminologies of BCRW

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Market Value:
Market Value is the estimated amount for which a property should exchange on the date of valuation between an educated buyer and a reasonably motivated seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without undue influence.

Adjournment:
Suspension or postponement of the hearing of a case, either to a definite future date or indefinitely (called sine die adjournment).

Unanimously:
The proposals were adopted unanimously.
OR
Shared as a view by all of the people concerned,
with nobody disagreeing.
OR
Complete agreement by all people in a given situation. When unanimous, everybody is of same mind and acting together as one.
Veto:
A veto, Latin for "I forbid", is the power of an officer of the state to unilaterally stop an official action, especially enactment of a piece of legislation.

Ad-hoc:
Ad-hoc is a Latin phrase meaning "for this". It generally signifies a solution designed for a specific problem or task, non-generalizable, and not intended to be able to be adapted to other purposes.

Standing Order:
A Standing Order (or a Standing Instruction) is an instruction a bank account holder gives to his bank to pay a set amount at regular intervals to another account.

Proxy:
Written authorization from an absent member (or a shareholder, called the...
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