Fair Territory: Part of the playing field within, and including the first base and third base lines, from home base to the bottom of the playing field fence and perpendicular upwards. All foul lines are in the fair territory.

 

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Fair Territory: Part of the playing field within, and including the first base and third base lines, from home base to the bottom of the playing field fence and perpendicular upwards. All foul lines are in . . . View Full Definition

Fair Ball: A legally batted ball that settles on or over fair territory.

Fairing: An added streamlining structure or auxiliary member, most often of light metal, whose only purpose is to reduce drag. Fairings are not load-bearing and, therefore, are not meant to carry any . . . View Full Definition

Fairness Opinion: A set of requirements for a plan of reorganization to be approved by the bankruptcy court.

Fairway: The closely mown area between the tee and green

Fairway Bunker: A sand or deep grass hazard situated in, or adjacent to, the fairway

Fair-And-Equitable Test: In the context of futures, the equilibrium price for futures contracts. Also called the theoretical futures price, which equals the spot price continuously compounded at the cost of carry ra . . . View Full Definition

Fair Zone: Portion of lane between the FOUL-LINE and the LOB-LINE.

Fair Use: The stated exceptions of allowed usage of work under copyright without requiring permission of the original copyright holder. Fair use is covered in section 107 of the Copyright code.

Fair Value: The rate of return that state governments allow a public utility to earn on its investments and expenditures. Utilities then use these profits to pay investors and provide service upgrades t . . . View Full Definition