I can't speak to the Sevens, but I have a 1912 Ross Cadet very similar to that one. The stock is a little different on mine. Your friend's rifle appears to have a cut-down (sporterized) military stock...that was common practice to make them lighter and handier for hunting. back in the day.
It would be difficult to assess its value. There are very few of these wonderful little rifles out there, and they can be quite pricey. To find out a possible value, I'd suggest having your friend join the Ross Rifle forum (
http://rossrifle.com/forum/index.php ) and pose the question there. They'll probably be very pleased to help, and will doubtless ask for more (and detailed) photographs to help with its valuation.
Mine is an original sporting version, and has features that make it rare (it is currently the only known one like it, according to the experts on the Ross Rifle Forum, so it's value is impossible to estimate. Mine has a Schnabel- shaped forestock, the worn remains of checkering at the pistol grip, the military-style butt plate, and a non-shrouded front sight. It's an excellent shooter, which was owned by my grandfather when it was brand new, and this year marks its 100th birthday.
Congratulate your friend - that's an amazing score!
Here's a couple of pics of mine for comparison purposes:
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