What is ACTUAL VALUE? Definition of ACTUAL VALUE in Black's Law Dictionary
"Actual value" to be awarded in condemnation proceeding is price that would probably result from negotiations between willing seller and willing buyer. State v. Hoblitt, 87 Mont. 403, 288 P. 181, 185. "Actual value,". "market value," "fair value," and the like may be used as convertible terms. Kerr v. Clinchfield Coal Corporation, 169 Va. 149, 192 S.E. 741, 744. "Saleable value," "actual value," "cash value," and others used in directions to tax assessing officers, all mean the same thing. In re Lang Body Co., C.C.A.Ohio, 92 F.2d 338, 340.
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That's the definition of ACTUAL VALUE in Black's Law Dictionary - Courtesy of Cekhukum.com.
