- The amount for which an article or piece of property may be sold at a sale which is not forced or compelled upon the seller where the terms of sale call for cash, no credit being extended to the purchaser; market value, fair market value, or clear market value. 28 Am J Rev ed Inher T § 359. See actual cash value; fair cash value; full cash value; true cash value.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
cash value — n: market value Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cash value … Law dictionary
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cash value option — The right of an owner of life insurance policy to take the cash value of a policy which is a predetermined amount at a given point in time; generally limited to a specified period after default in premium payments … Black's law dictionary