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.
Utah 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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FAQ
Damages for conversion are the awards someone seeks in a conversion case. They are compensation for actual losses of personal property. Conversion is depriving an individual's rights to use or possess his or her personal property.
Slander of title occurs when one untruthfully and without justification casts doubt on another's ownership of property.
For example, a person who picks up a necklace off the ground with the intent to resell it because they erroneously believed it was abandoned still converted that necklace. The standard remedy for conversion is return of the property in question or damages for the fair market value of the property.
Conversion damages refer to the monetary compensation that may be awarded to a person whose property has been converted (taken or used without permission).
The exact measure of compensation due to a plaintiff whose goods have been wrongfully converted may be merely nominal if the wrong is technical and the defendant can return the goods; it may be limited to the actual damage where the goods can be returned, but the wrong is substantial; but in ordinary cases it is the ...
A conversion occurs when a person without authority or permission intentionally takes the personal property of another or deprives another of possession of personal property. It is a tort which allows the injured party to seek legal relief. This article shall discuss the basic law involving conversion.