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ACTUAL CASH VALUE Definition & Legal Meaning

Definition & Citations:

The fair or reasonable cash price for which the property could be sold in the market, in the ordinary course of business, and not at forced sale; the price it will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. Birmingham F. Ins. Co. v. Pul- ver, 126 111. 329. IS N. E. 804, 9 Am. St. Rep. 598; Mack v. Lancashire Ins. Co. ((‘. (‘.) 4 Fed. 59; Morgan’s L. & T. R. S. S. Co. v. Board of Reviewers, 41 La. Ann. 1156. 3 South. 507.


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