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.
Tennessee Instruction to Jury Regarding Damages for Conversion by Lien holder is a legal guideline provided to juries in Tennessee when determining the appropriate damages in a case involving conversion by a lien holder. Conversion refers to the act of wrongfully taking or holding onto someone else's property without their consent. A lien holder is someone who possesses a legal claim or interest in the property as security for a debt or obligation. Under the Tennessee Instruction to Jury, there can be various types of damages that can be awarded based on the specific circumstances of the case. These damages may include: 1. Actual Damages: This refers to the amount of financial loss suffered by the plaintiff as a direct result of the conversion. It includes the value of the converted property and any other losses incurred. 2. Compensatory Damages: These damages aim to compensate the plaintiff for the harm caused by the conversion. They can include both economic and non-economic damages, such as medical expenses, lost wages, pain and suffering, emotional distress, and any other reasonably foreseeable damages arising from the conversion. 3. Punitive Damages: In certain cases involving intentional or malicious conduct, punitive damages may be awarded to the plaintiff. These damages are meant to punish the defendant and deter others from engaging in similar wrongful conduct. 4. Exemplary Damages: Similar to punitive damages, exemplary damages also serve as a punishment for the defendant. They are typically awarded when the conversion by the lien holder involves fraud, malice, or oppression. 5. Attorney's Fees: In some cases, the court may allow the plaintiff to recover attorney's fees if they are successful in proving their case. This serves as a way to incentivize individuals to pursue legal action and ensure access to justice. It is important for the jury to carefully consider the evidence presented and assess the damages based on the specific facts and circumstances of the case. The Tennessee Instruction to Jury provides a framework for the jury to determine the appropriate damages in a fair and just manner. By following these instructions, the jury can ensure a well-reasoned and legally sound decision regarding the damages owed by a lien holder in a conversion case.
