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LSDefine

Simple English definitions for legal terms

actual value

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A quick definition of actual value:

An actual value is the true worth of something. It can refer to the monetary value of an item or its importance or usefulness to people. For example, the actual value of a car could be its market price or the value it provides in transportation. Actual value is also known as fair market value, which is the price that a buyer is willing to pay and a seller is willing to accept in an open and fair transaction.

A more thorough explanation:

Actual value refers to the real worth of something. It can be the monetary value of something or its significance, desirability, or usefulness. It is also known as fair market value.

  • If you want to sell your car, the actual value is the amount of money someone is willing to pay for it in an open and fair market.
  • In insurance, the actual value is the replacement cost of an item minus its normal depreciation.
  • When determining the value of a property, the actual value is the price that a buyer is willing to pay and a seller is willing to accept in an arm's-length transaction.

These examples illustrate that actual value is the true worth of something in a given context, whether it is the price of a car, the replacement cost of an insured item, or the market value of a property.

actual total loss | actuarial equivalent

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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