agreed value
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 279 U.S. 708 - Gulf Refining Co. v. Atlantic Mutual Insurance · 1929Most cited · 30 citing opinions
The policy agreement valuing the cargo at a specified amount is not a representation, or so regarded. It is no more than a stipulation in effect, that for purposes of computation of the insurance liability the cargo shall be taken at an agreed value.