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ProveMyFloridaCase.com > Posts tagged "fair market value"

Measure of Tort Damages in Civil Disputes

If you are filing a civil action, your case is generally about, and should generally be about, recovering damages. Sure, there may be exceptions where a party is seeking injunctive relief or a declaration, but mostly, civil disputes concern a party seeking monetary damages. When it comes to civil tort actions, remember this when it comes to the measure of damages: “In tort actions, the measure of damages [awarded] seeks to restore the victim to the position he would be in had the wrong not been committed.” Hollywood Imports Limited, Inc. v. Nationwide Financial Services, LLC, 48 Fla.L.Weekly D915a (Fla. 4th...

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Discussion on the Difference Between Replacement Cost Value and Fair Market Value

This post discusses an interesting, but fairly complex decision dealing with the difference between replacement cost value and fair market value (actual cost value).  The decision also discusses the set-off when suing a defendant after being paid the replacement cost value limit under the policy. In Five Solas, Inc. v. Ram Realty Services, LLC, 46 Fla.L.Weekly D1255a (Fla. 4th DCA 2021), a brick wall collapsed falling on a neighboring building damaging the building and rendering it untenantable.  The owner of the building had a replacement cost value property insurance policy with a liability limit and deductible.  The insurer paid the liability limit...

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