Value is in the eye of the beholder
The principles of value established in this case may
also, with the passage of time, inform concepts of value as they
relate to other intangible personal rights such as privacy, beliefs
and personal preferences.
Many claims for loss and damage require identification of the
'value' of an asset or interest. But what does
'value' mean, and how is it to be established? In this
case, the High Court of Australia considered how to arrive at an
'objective economic value' for certain native title rights
and how to determine the amount of compensation for 'cultural
loss'. The principles of value established in this case may
also, with the passage of time, inform concepts of value as they
relate to other intangible personal rights such as privacy, beliefs
and personal preferences.
