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FAIR
. A privileged market. 2. In England, fairs are granted by the king's patent. 3. In the United States, fairs are almost unknown. They are recognized in Alabama; Aik. Dig. 409, note; and in North Carolina, where they are regulated by statute. 1 N. C. Rev. St. 282. See Domat, Dr. Public, liv. 1, t. 7, s. 3, n. 1.
Source: Bouviers Law Dictionary 1856 Edition
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