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.
Nevada Instruction to Jury Regarding Damages for Conversion by Lienholder
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In Nevada, courts have recognized diminished value, and the victim of an accident can seek compensation for the difference between the pre-accident and post-repair value. Diminished value can also be claimed in contract law when a breach of contract has caused a loss in property value.
Ingly, the captain of the ship doctrine puts that responsibility onto the surgeon, who is more qualified to ensure that a surgery is mistake free. When mistakes happen, the surgeon has the liability because the surgeon was supposed to supervise and control the procedure.
Nevada Pattern Jury Instruction 10.09 tells a jury how to award damages in a case of diminished value. The court instructs the jury that if repairs don't fully restore the value of the damaged property, the jury should award the victim the difference between fair market value and the value post repair.
The tort of conversion is the exercise of dominion over property in violation of the rights of the owner or the person entitled to possession. Grayson v. Bank of Little Rock, 334 Ark.