Replacement
Legal definition for Indian law research
Definition
replacement
1 a : the act of replacing
: the state of being replaced
b : an insurer's option under a policy to replace or repair damaged property rather than pay the insured for the loss
2 : something that replaces
;specif
: a new fixed asset or portion of an asset that takes the place of one discarded (as because of deterioration)
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.