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.
Colorado Instruction to Jury Regarding Damages for Conversion by Lienholder
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How to fill out Instruction To Jury Regarding Damages For Conversion By Lienholder?
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In a tort case, the injured party can receive compensatory damages to compensate for all types of losses, including direct costs for medical car, property damage, or lost wages. It can also include indirect costs such as compensating for pain and suffering or inconvenience.
The elements of conversion are[iv]: the plaintiff's ownership or right to possession of the property; the defendant's conversion by wrongful act inconsistent with the property rights of the plaintiff; and. damages.
[27] The tort of conversion ?involves a wrongful interference with the goods of another, such as taking, using or destroying these goods in a manner inconsistent with the owner's right of possession?: Boma Manufacturing Ltd. v. Canadian Imperial Bank of Commerce, 1996 CanLII 149 (SCC), [1996] 3 S.C.R.
A plaintiff is entitled to damages equal to the full value of the chattel at the time and place of conversion. The measure of damages in conversion is the fair market value of the property at the time and place of the conversion.
Overview of Conversion in Tort Law It is an intentional tort where ignorance or mistake offer no defence, and the usual remedy is damages equivalent to the chattel's value at the time of conversion.
The purpose of damages in a conversion case is to ?to compensate for the injury.? Where the measure of damages works an injustice, the court has ?the discretion required to fashion an equitable remedy.? The rule of damages for the tort of conversion is that a ?conversion should not unjustly enrich either the wrongdoer ...
Conversion is an intentional tort which occurs when a party takes the chattel property of another with the intent to deprive them of it. Conversion is not applicable to real property. For the purposes of conversion, ?intent? merely means the objective to possess the property or exert property rights over it.
Both the Federal and Colorado Constitutions guarantee the right to a jury trial in criminal cases. Colorado further grants defendants a right by statute to demand a jury trial in all criminal cases.