true value
Defined in 2 dictionaries — Case Law, Abbott (1879)
Definitions from Case Law
From 24 U.S. 419 - The United States Tappan · 1826Most cited · 8 citing opinions
the words 'true value,' in the eleventh section of the act of Congress of the 20th of April, 1818, do mean the actual cost thereof to the importer at the place from which the same was imported
Dictionary of Terms and Phrases Used in American or English Jurisprudence
Benjamin Vaughan Abbott · 1879
The words true value, in section 11 of the supplementary, act of congress of, April 2Q, 1818, — authorizing the collector to direct an appraisement when there is ground to suspect, that goods have been; invoiced below their true value at the place from which they were imported, — mean the actual cost of the goods to the importer at the place from which they were imported, and not the current market value of such goods at that, place. United States v. Tappan, 11 Wheat. 419. Compare Tappan v. United States, 2 Mas. 393.