Standard Oil Co. of NJ v. Southern Pacific Co.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• recognizing “contemporaneous sales of like property in the way of ordinary business” as one manner of establishing market value
• recognizing \contemporaneous sales of like property in the way of ordinary business\ as one manner of establishing market value
• explaining, in an admiralty case, that “mar- ket value” can be “established by contemporaneous sales of like property in the way of ordinary business, as in the case of mer- chandise bought and sold in the market”
• valuation \not controlled by artificial rules;\ what is required is \reasonable judgment\ based on the relevant facts
• “It is not a matter of formulas, but there must be a reasonable judgment having its basis in a proper consideration of all relevant facts.”
• “It must be remembered in condemnation cases valuation is not a matter of mere mathematical calculation, but involves the exercise of judgment.”

Source: CourtListener parenthetical corpus (CC0).