Definition of ESTIMATION OF VALUES


ESTIMATION OF VALUES

As the value of most things is variable,
according
to circumstances, the law in many cases determines the time at which the
value of a thing should be taken, thus, the value of an advancement, is to
be taken at the time of the gift. 1 Serg. & R. 425. Of a gift in
frank-marriage, at the time of partition between the parceners, and the
bringing of the gift in frank-marriage into hotchpot. But this is a case
sui generis. Co. Lit. 273, 1 Serg. & R. 426. Of the yearly value of
properties, at the time of partition. Tho. Co. Lit. 820. Of a bequest of so
pieces of coin, at the time of the will made. Godolph, 0. L. 273, part 3,
chap. 1. 3. Of assets to make lineal warranty a bar, at the time of the
descent. Co. Lit. 374, b. Of lands warranted, at the time of the warranty.
Beames Glanv. 75 n., 2 Serg. & Rawle, 444, see Eviction 2. Of a ship lost
at sea, her value is to be taken at the port from which she sailed,
deducting one-fifth, 2 Serg. & Rawle, 258, 1 Caines, 572, 2 Condy.
Marshall, 545, but different rules prevail on this subject in different
nations. 2 Serg. & R. 259. Of goods lost at sea, their value is to be taken
at the port of delivery. 2 Serg. & R. 257. The comparative value of a life
estate, and the remainder in fee, is one-third for the life and two-thirds
for the remainder in fee, and moneys due upon a mortgage of lands devised
to one for life, and the remainder in fee to another, are to be apportioned
by the same rule. 1 Vern. 70, 1 Chit. Cas. 223, 224, 271, Francis Max. 3,
12, and note. See Exchange, 3-2.


Source: Bouviers Law Dictionary 1856 Edition

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