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Book 4 · Commercial transactions  ›  Division 4 · Freight business › Section 429

Compensation based upon value

(1) Where the carrier is liable to pay compensation of damages for total or partial loss of the goods, such compensation is to be calculated by reference to the value of the goods at the place and time at which they were accepted for carriage.

(2) If the goods have been damaged, the measure of the damages payable is to consist of the difference between the value of the undamaged goods at the place and time of acceptance for carriage and the value that the damaged goods would have had at the place and time of acceptance. The costs necessary in order to reduce and remedy the damage will be considered to be equal to the amount of the difference calculated pursuant to sentence 1.

(3) The value of the goods is to be fixed in accordance with the current market price or, if there is no such price, in accordance with the normal value of goods of the same kind and quality. If the goods were sold immediately prior to their acceptance for carriage, then the purchase price noted in the seller's invoice, minus carriage charges included therein, is to be considered the current market price.

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