Kenneth G. Wilson (1923–). The Columbia Guide to Standard American English. 1993.
fair (adj., n.), fare (n., v.)
These homophones have many meanings and should rarely be confused. As adjective fair means “lovely, of light coloring (as of hair or complexion), clear and bright (as of the weather), impartial, just, nondiscriminatory, according to the rules, favorable (as in a fair wind),” etc. As a noun, a fair is a carnival or other such event, but representing people the fair can also mean “those who are possessed of one or more of these qualities, especially beautiful women,” and “those who are just and impartial.” The verb fare means “to travel, to get along, to succeed, and to eat”; the noun means “the price of a ticket for travel, a paying passenger, food and other things to be consumed.” All these senses of each word are Standard.
