Definition for PAR

PAR, n. [L. par, equal; W. par, that is upon or contiguous that is in continuity, a state of readiness or preparedness, a pair, a fellow, Eng. peer. The word seems to be formed on the root of L. paro, and the Shemitic ברא, and the primary sense to extend or reach.]

  1. State of equality; equal value; equivalence without discount or premium. Bills of exchange are at par, above par, or below par. Bills are at par, when they are sold their nominal amount for coin or its equivalent.
  2. Equality in condition.

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