It can be either a noun or adjective:
Noun: We had a wonderful time at the fair. (here it is a person, place or thing)
Adjective: She had fair hair and skin. (here it describes the nouns of "skin" and "hair")
A modified form of the word -- "fairly" --would be the adverb:
He treated them all fairly. (describes an action)
Noun: We had a wonderful time at the fair. (here it is a person, place or thing)
Adjective: She had fair hair and skin. (here it describes the nouns of "skin" and "hair")
A modified form of the word -- "fairly" --would be the adverb:
He treated them all fairly. (describes an action)