actual cash value

actual cash value
The price in cash obtainable in a fair market. The fair cash value. Birmingham Fire Ins. Co. v Pulver, 126 Ill 329, 18 NE 804. Cost of reproduction less depreciation, although important evidence of value, is not an exclusive test of "actual cash value" within the meaning of an appraisal clause of an insurance policy. Schreiber v Pacific Coast Fire Ins. Co. 195 Md 639, 75 A2d 108, 20 ALR2d 951. Neither market value nor replacement cost is an exclusive test; all facts and circumstances which tend logically to assist in arriving at a correct estimate of actual cash value are to be considered. 29A Am J Rev ed Ins § 1545.

Ballentine's law dictionary. . 1998.

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  • actual cash value — n 1: the cost of replacing or repairing damaged property less any applicable depreciation 2: fair market value Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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  • Actual cash value — In the property and casualty insurance industry, actual cash value (ACV) is a method of computing what an insurer will pay an insured, after a loss, for a specific insured item. It is often a less costly method of insuring articles or structures …   Wikipedia

  • actual cash value — noun Date: circa 1946 money equal to the cost of replacing lost, stolen, or damaged property after depreciation …   New Collegiate Dictionary

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  • cash value — The cash value of an article or piece of property is the price which it would bring at private sale (as distinguished from a forced or auction sale); the terms of sale requiring the payment of the whole price in ready money, with no deferred… …   Black's law dictionary

  • cash value — The cash value of an article or piece of property is the price which it would bring at private sale (as distinguished from a forced or auction sale); the terms of sale requiring the payment of the whole price in ready money, with no deferred… …   Black's law dictionary

  • cash value — The amount for which an article or piece of property may be sold at a sale which is not forced or compelled upon the seller where the terms of sale call for cash, no credit being extended to the purchaser; market value, fair market value, or… …   Ballentine's law dictionary

  • cash value — See actual cash value …   Dictionary of automotive terms

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