book value n: the value of something as shown on bookkeeping records as distinguished from market value: as
a : the value of an asset equal to cost less depreciation
b : the value of a corporation's capital stock expressed as its original cost less depreciation and liabilities
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.