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" This company shall not be liable beyond the actual cash value of the property at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such actual cash value, with proper deduction for depreciation however... "
The South Western Reporter - Page 162
1925
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Acts of the Legislature of the Province of Manitoba

Manitoba - Session laws - 1924 - 528 pages
...thereof to be made. (4) The insurer shall not be liable beyond the actual cash value of the automobile at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such actual cash value, with proper deduction for depreciation, however caused, and shall...
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