actual cash value

noun

Definition of actual cash value

  1. :  money equal to the cost of replacing lost, stolen, or damaged property after depreciation

First Known Use of actual cash value

1922


Law Dictionary

actual cash value

noun

Legal Definition of actual cash value

  1. 1 :  the cost of replacing or repairing damaged property less any applicable depreciation

  2. 2 :  fair market value


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