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3 terms you should know if you do Certified Industrial Commercial and Machinery appraisals in Ohio
The commercial business equipment and machinery appraisal profession is fragmented with varying degrees of expertise, the courts and banks are increasing their reliance on our valid opinions more scrutiny is being placed on the process, be prepared.
The phrase "voir dire" is French; in modern English it is interpreted to mean "speak the truth" and generally refers to the process by which prospective jurors are questioned about their backgrounds and potential biases before being invited to sit on a jury.
In a common trial, "Voir Dire" can also mean a motion to cross-examine an expert witness during opposing counsel's direct examination to establish the credibility of said witness before damaging evidence is brought to court through this witness who may not be credible. This saves possibly not only days of testimony and wasted time for a court, but also insures any prejudical evidence is brought through by a credible, expert witness.
Another common judicial proceeding is the Daubert challenge, which is a hearing conducted before the judge where the validity and admissibility of expert testimony is challenged by opposing counsel. The expert is required to demonstrate that his/her methodology and reasoning are scientifically valid and can be applied to the facts of the case.
The term comes from the 1993 U.S. Supreme Court case, Daubert v. Merrell Dow Pharmaceuticals, Inc., 509 U.S. 579 (1993), in which the Court articulated a new set of criteria for the admissibility of scientific expert testimony. In its 1999 Kumho Tire v. Carmichael opinion, the Court extended Daubert's general holding to include non-scientific expert testimony as well.
Ipse dixit is a Latin phrase meaning he himself said it. The term labels a dogmatic statement asserted but not proved, to be accepted on faith in the speaker. Usually from a person of standing or good reputation, such as Aristotle or even Plato; a dictum.
The legal and philosophical principle of "Ipse dixit" involves an unproven assertion, which is claimed to be authoritative because "[Latin 'he himself said it.'"] It is asserted, but not proved, this is not generally what our clients or courts are looking for, there needs to be solid reasoning behind your valuation.
Good advice for any appraisal is to approach every appraisal as if it might land you in court
Bryan Worley, CAGA is a member of the Certified Appraisers Guild of America with USPAP Certification.
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