[sic] near commensurate with the stated value.”); Bella S.S. Co. v. Ins. Co. of N. Am., 5 F.2d 570, 572 (4th Cir.1925) (“No reasonable insurer will knowingly take an insurance risk when it is to the interest of the insured that the property should be lost.”); Smith v. Cont’l Ins. Co., 2001 WL 418720 at *3-4, 4, 2001 U.S. Dist. LEXIS 4999 *12-13, 15 (D.Md.2001) (finding a policy void ab initio because the insured’s misrepresentation of a vessel’s value as $32,000 when it had been (1) purchased five years earlier for $16,000 and (2) estimated at $100 a year earlier in a bankruptcy petition was material, and because the insured’s failure to disclose those earlier prices was also material); Albany Ins. Co. v. Horak, 1993 WL 269620, *8-9, 1993 U.S. Dist. LEXIS 9500, *27-28 (E.D.N.Y.1993) (<HOLDING>); Hartford Ins. Co. v. Garvey, 1988 WL 185880,
holding damage award resulting from a breach of an agreement to purchase securities is the difference between the contract price and the fair market value of the asset at the time of the breach holding that where purchaser had taken possession and paid part of the purchase price the statute of frauds did not bar enforcement of a purchase agreement holding that the purchase price and cost of repairs are both relevant to risk valuation and that an insureds nondisclosure of a 57 000 purchase price one year before obtaining 350000 insurance coverage was material and voided the policy ab initio holding that the absence of a market price is no barrier to valuation for purposes of assessing tax liability holding that a sale must be both fair and reasonable in price and made in good faith