Patriotic Order Sons of America Hall Ass'n v. Hartford Fire Insurance

Opinion by

Mr. Justice Schaffer,

This is an action of assumpsit on a policy of fire insurance. The fundamental question to be determined is the meaning of the terms “actual cash value” and “sound value.” The trial judge held their meaning to be the same; the plaintiff, appellant, contends it is different.

The policy provides: “In consideration of the reduced rate and (or) form under which this policy is written, it is expressly stipulated and made a portion of this contract that in the event of loss this company shall be liable for no greater proportion thereof than the amount hereby insured…