The effective value is that market value obtained through the purchase or sale of a financial asset or right, such as credit instruments or bills of exchange. In the field of financial and stock market economics, the concept of cash value is frequently used. In practice, it is the value assigned to a  financial instrument or right when it is transferred through a sale.

Rights, Duties and Obligations of a Citizen | Citizenship confers both rights and duties on a citizen. Since the citizen enjoys all the rights provided by his state, it follows that he is obliged to perform certain duties and obligation to the state in return. This is because every right or privilege entails a responsibility.