How is replacement cost calculated in a motor vehicle accident?
Ontario, Canada
The following excerpt is from Bookman v. U-Haul Co.(Canada) Ltd., 2007 CanLII 37462 (ON SCDC):
Where replacement cost is determined to be the proper basis for an award of damages, the usual principle should be applied and depreciation should be taken into account. (See Jens v. Mannix Co. (1979) 30 DLR(4th))
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