marketable

Salable. Such things as may be sold in the market; those for which a buyer may be found; merchantable

@ marketable securities

Stocks and bonds held of other companies that can be readily sold on stock exchanges or over-the-counter markets and that the company plans to sell as cash is needed. Classified as current liquid assets and as part of working capital

@ marketable title

A title which is free from encumbrances and any reasonable doubt as to its validity, and such as a reasonably intelligent person, who is well informed as to facts and their legal bearings, and ready and willing to perform his contract, would be willing to accept in exercise of ordinary business prudence. Sinclair v. Weber, 204 Md. 324, 104 A.2d 561, 565.

Such a title as is free from reasonable doubt in law and in fact; not merely a title valid in fact, but one which readily can be sold or mortgaged to a reasonably prudent purchaser or mortgagee; one acceptable to a reasonable purchaser, informed as to the facts and their legal meaning, willing to perform his contract, in the exercise of that prudence which businessmen usually bring to bear on such transactions; one under which a purchaser may have quiet and peaceful enjoyment of the property; one that is free from material defects, or grave doubts, and reasonably free from litigation. Myrick v. Austin, 141 Kan. 778, 44 P.2d 266, 268.

Marketable title is one which is free from reasonable doubt and will not expose party who holds it to hazards of litigation. Tri-State Hotel Co. v. Sphinx Investment Co., 212 Kan. 234, 510 P.2d 1223, 1230.

One that may be freely made the subject of resale. Krulee v. F. C. Huyck & Sons, 121 Vt. 299, 156 A.2d 74, 77.

A marketable title to land is such a title as a court, when asked to decree specific performance of the contract of sale, will compel the vendee to accept as sufficient. It is said to be not merely a defensible title, but a title which is free from plausible or reasonable objections.

See also merchantable title

- clear title; good title; merchantable title

@ Marketable Title Acts

Many states have adopted Marketable Title Acts the purpose of which is to simplify land title transactions through making it possible to determine marketability by limited title searches over some reasonable period of the immediate past (e.g. 40 yrs.) and thus avoid the necessity of examining the record back into distant time for each new transaction

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