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.
California Instruction to Jury Regarding Damages for Conversion by Lien holder is a legal instruction that provides guidance to the jury in a civil case involving a lien holder's conversion of property. Conversion refers to the act of wrongfully depriving an owner of their property and using it for the converter's own benefit. In California, there are several types of Instructions to Jury Regarding Damages for Conversion by Lien holder, including: 1. Instruction on Measure of Damages: This instruction outlines the method for calculating the damages in a conversion case. It informs the jury that damages are typically assessed based on the fair market value of the property at the time of conversion. 2. Instruction on Punitive Damages: This instruction explains when punitive damages may be awarded in a conversion case. It informs the jury that punitive damages are intended to punish the defendant for their wrongful conduct and deter others from engaging in similar behavior. 3. Instruction on Mitigation of Damages: This instruction advises the jury on the concept of mitigation of damages in a conversion case. It informs them that the plaintiff has a duty to minimize their losses after the conversion occurs and that any damages incurred due to the plaintiff's failure to mitigate should be reduced. 4. Instruction on Economic and Non-Economic Damages: This instruction distinguishes between economic and non-economic damages in a conversion case. It informs the jury that economic damages are tangible losses, such as the fair market value of the converted property, while non-economic damages are intangible losses, such as emotional distress or loss of enjoyment. 5. Instruction on Prejudgment and Postjudgment Interest: This instruction explains the rules regarding the awarding of prejudgment and post-judgment interest in a conversion case. It informs the jury that prejudgment interest may be awarded to compensate the plaintiff for the loss of use of their property, while post-judgment interest is intended to encourage prompt payment of the damages awarded. Overall, California Instruction to Jury Regarding Damages for Conversion by Lien holder provides a comprehensive framework for assessing and awarding damages in a conversion case involving a lien holder. It ensures that the jury is properly instructed on the relevant legal principles and considerations, enabling them to make an informed decision on the damages to be awarded to the plaintiff.
