Value

The utility of an object. The price demanded or accepted as equivalent to the utility of anything.

161 111. 251; 154 111. 662.

The worth of an object in purchasing other goods. The value of a thing is what it will produce. The first may be called "value in use;" the latter, "value in exchange." It is a relative term, depending upon different circumstances, 235 111. 435, and has no fixed criteria. 21 Minn. 322. "Value" differs from "price." The latter is applied to live cattle and animals. In a declaration, therefore, for taking cattle, they ought to be said to be of such a price; and in a declaration for taking dead chattels, or those which never had life, it ought to lay them to be of such a value.

2 Lilly, Abr. 629.