In Davis v. Nationale Fire Insur. Co., Paris, France,  O.W.N. 783 at 784, 14 I.L.R. 159, in finding “the value” of 20-year-old buildings, Gale J. (as he then was) stated that “there was no evidence adduced as to the market value of the property involved in the fire, and it seems to me I am left with no alternative but to regard the cost of reinstatement as the only available measure of indemnity . . . less reasonable depreciation”.
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