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.
Maryland Instruction to Jury Regarding Damages for Conversion by Lien holder is a set of guidelines provided to the jury in a legal proceeding involving a lien holder's conversion of property. This instruction provides a detailed explanation of the damages that can be awarded to the affected party due to the lien holder's wrongful conversion. Keywords: Maryland, instruction to jury, damages, conversion, lien holder Different types of Maryland Instruction to Jury Regarding Damages for Conversion by Lien holder may include: 1. Instruction to Jury Regarding Compensatory Damages for Conversion by Lien holder: This type of instruction focuses on compensatory damages, which aim to restore the plaintiff to the position they were in before the conversion occurred. It outlines the factors that the jury should consider when assessing the amount of compensatory damages, including the value of the converted property, any economic losses incurred, and any emotional distress experienced by the plaintiff. 2. Instruction to Jury Regarding Punitive Damages for Conversion by Lien holder: This type of instruction pertains to punitive damages, which are awarded in addition to compensatory damages in cases where the defendant's behavior is deemed willful, malicious, or fraudulent. It provides guidance to the jury on how to determine if punitive damages are appropriate and how to calculate their amount. 3. Instruction to Jury Regarding Statutory Damages for Conversion by Lien holder: Some jurisdictions may have specific statutes that prescribe a fixed amount of damages for certain types of conversion by a lien holder. This instruction would inform the jury about the applicable statute and guide them on how to calculate the damages accordingly. 4. Instruction to Jury Regarding Nominal Damages for Conversion by Lien holder: In cases where the plaintiff has not suffered significant financial loss, an instruction regarding nominal damages may be given. Nominal damages are a symbolic amount awarded to acknowledge that the plaintiff's rights have been violated, without compensating for any substantial harm. When providing the Maryland Instruction to Jury Regarding Damages for Conversion by Lien holder, the judge should consider which specific type of damages are applicable to the case at hand. The instruction aims to educate the jury on the legal principles surrounding damages for conversion by a lien holder and assist them in making an informed decision regarding the compensation to be awarded.
