Named after Max Valier - German rocketry engineer (1895-1930).
Valier is a lunar impact crater that lies on the far side. It is nearly attached to the western rim of the crater Tiselius. To the north-northwest lies the larger Sharonov, to the south-southwest is Coriolis, and west is Dufay. The most notable feature of this crater is the satellite crater Valier J that occupies the southeastern part of the interior floor and shares part of the outer rim. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.