In an action by a personal property owner against the lienholder for wrongful conversion of the property covered by the lien, the property owner is generally only entitled to recover the excess of the fair market value of the property over the amount of the debt for which it was security.
Arkansas Instruction to Jury Regarding Damages for Conversion by Lien holder: In the state of Arkansas, when a lien holder converts an individual's property, the court provides specific instructions to the jury regarding the damages that may be awarded. These instructions aim to ensure fair compensation for the victim. One type of instruction specifically deals with the calculation of damages for conversion by a lien holder. This instruction highlights the key elements that the jury should consider when determining the appropriate amount of compensation. The jury will be instructed to assess the actual value of the converted property at the time of conversion, including any related losses or expenses incurred by the victim as a result of the conversion. Additionally, the jury may receive directions regarding the potential awarding of consequential damages in cases of conversion by a lien holder. Consequential damages encompass any loss suffered by the victim due to the conversion, even if those losses were not directly caused by the lien holder's actions. For example, if the conversion leads to loss of business opportunities or reputation, the jury may consider awarding consequential damages. Furthermore, the court may provide instructions relating to punitive damages to be awarded in cases where the conversion by a lien holder is deemed to be particularly egregious or intentional. In such instances, the jury may be allowed to consider punitive damages to deter similar behavior in the future and to send a strong message to the defendant. Overall, the instructions given by the court to the jury help establish a framework for evaluating damages in cases of conversion by a lien holder. The jury is tasked with carefully considering the evidence presented during the trial and applying it to the legal principles and guidelines provided by the court in order to determine fair and just compensation for the victim. Keywords: Arkansas, instruction to jury, damages, conversion, lien holder, calculation, compensation, actual value, losses, expenses, consequential damages, punitive damages, evaluation, trial, legal principles.
