Actual Cash Value
ACTUAL CASH VALUE
The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at forced sale. The priceit will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. What property is worth in money, allowing for depreciation. Ordinarily, actual cash value, fair market value, and market value are synonymous terms.
"Actual Cash Value." West's Encyclopedia of American Law. . Encyclopedia.com. (September 24, 2018). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/actual-cash-value
"Actual Cash Value." West's Encyclopedia of American Law. . Retrieved September 24, 2018 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/actual-cash-value
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