The disputed stock inventory, consisting of lamps and lighting products, was damaged during a sprinkler system leak in plaintiff's South Carolina warehouse in 2008. The issue before us is whether this stock is to be valued at the selling price or replacement cost under the insurance policy defendant issued to plaintiff.
The policy provides for valuation at the selling price, rather than at the cost of replacement, of damaged "`[s]tock' you have manufactured" and of...
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