Legal Definitions - clear value

Definition: Clear value refers to the significance, desirability, or utility of something. It can also refer to the monetary worth or price of something.

For example, fair market value is the price that a seller is willing to accept and a buyer is willing to pay on the open market and in an arm's-length transaction. Another example is the cash surrender value, which is the amount of money payable when an insurance policy having cash value, such as a whole-life policy, is redeemed before maturity or death.

These examples illustrate how clear value is used to determine the worth of something, whether it be in terms of market value or insurance value.