In adjusting a building loss it is the practice to take the cost of rebuilding, or reinstating, as the basis for arriving at the amorxt of the indemnity; but in arriving" at the actual loss due allowance must be made for the state of the build-at the time of the fire, for} obviously if the building is in a state of disrepair, to pay the cot: of rebuilding would be to give the sured more than an indemnity.
would be receiving a better thing only to repair the building. as fag ance of ate regress had got it are equally applicable to the liability of the insurance conpany for a building loss. came Sich he'focs he'fs not ebiee "ite (the tenant) fs. to repair thet (ankle's new and diferent. thing."
Similarly, an insurance company is not liable for more than what it wil take to restore. fre. To do more twonld be to give now for old. The Intrinsic value of a Dullding is the! est which would" be. ineurred_to [produce the "original design. The Trarket. value, or the. price. that would be obtained for it by selling, nay es before mentioned be different together from the actual value purpose a value inde-'A building erected for a specific Pentdent of its selling value, For the price it would bring if pat up for! {2¢ sale would be governed by various whether the liar purposes to those for which was erected, oF whether it could be readily adapted to other uses, fand" so. On, These considerations, however, might eno criterion of the loss. which the "owner would sustain if he had to reconstruct the building after a fire for his own pur-paves and consequently, to. adins the loss. on. the. basis' of selling value instead of reinstatement value} Tight not be to. give the insured 2 full indemnity.
Text read from the printed page and cleaned; old type leaves the occasional error.