Book value should never be confused with fair market value. Where an interest is acquired at book value, the seller does not receive the fair value of his interest. Generally, but not always, the carrying amount is less than the fair value. Therefore, buying at book value is simple, but can be inherently unfair to the owner who drops out. The purchase-sale or partnership contract for a partnership should address several unique issues for that business relationship. For example, the agreement may first provide for the use of the book value. This makes sense, as it is unlikely, in the first year, that a new transaction will generate significant goodwill or that the appreciation of its assets and ownership relationships will be particularly unstable.