ESTIMATION OF VALUES
(bouvier) | 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. Sec. 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. Sec. 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, Sec. 12, and note. See
Exchange, 3-2.
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