What is CASH VALUE? Definition of CASH VALUE in Black's Law Dictionary – Legal dictionary – Glossary of legal terms.
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 payments. Tax Com'rs v. Holiday, 150 Ind. 216, 49 N.E. 14, 42 L.R.A. 826; Cummings v. Bank, 101 U.S. 162, 25 L.Ed. 903. For "Fair Cash Value," see that title.
Actual value or market value, Fort Worth & D. N. Ry. Co. v. Sugg, Tex.Civ.App., 68 S.W.2d 570, 572; Yeoman Mut. Life Ins. Co. v. State Board of Assessment, 229 Iowa 220, 294 N.W. 330, 334. Clear market value or fair market value. In re Ryerson's Estate, 239 Wis. 120, 300 N.W. 782, 784. Price property will bring on sale by one desiring, but not compelled, to sell to one desiring, but not compelled, to purchase. Insurance Co. of North America v. McGraw, 255 Ky. 839, 75 S.W.2d 518, 520. Salable value, In re Lang Body Co., C.C. A.Ohio, 92 F.2d 338, 340. Usual selling price at private sale and not at a forced or auction sale. Volunteer State Life Ins. Co. v. Union Title Guarantee Co., 175 La. 183, 143 So. 43, value at which property would be taken in payment of just debt
from solvent debtor. Bank of Fairfield v. Spokane County, 173 Wash. 145, 22 P.2d 646, 652.
More On This Topic : CLEAR MARKET VALUE
That's the definition of CASH VALUE in Black's Law Dictionary – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.