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.
Title: Wisconsin Instruction to Jury Regarding Damages for Conversion by Lien holder: A Comprehensive Guide Keywords: Wisconsin instruction to jury, damages for conversion by lien holder, types of instruction, definition of conversion, remedies, legal process, lien holder's liability Introduction: The Wisconsin Instruction to Jury Regarding Damages for Conversion by Lien holder provides guidance to juries in cases involving conversion claims made by a lien holder. Conversion generally refers to the act of wrongful exercising control or dominion over someone else's property, depriving the rightful owner of their possession and use. This instruction outlines the types of damages that may be awarded, the potential liability of a lien holder, and the legal process for determining the remedies available to the injured party. Types of Wisconsin Instruction to Jury Regarding Damages for Conversion by Lien holder: 1. Instruction on the Elements of Conversion: This instruction defines conversion, emphasizing that it involves intentional or unauthorized interference with the property rights of another person. It explains that a lien holder, in particular, holds a financial interest in the property and has a duty to act in accordance with the terms of the lien agreement. 2. Instruction on Lien holder's Liability: This instruction clarifies that a lien holder can be held liable for conversion if they engage in actions that exceed the scope of their rights as defined by the lien agreement. It explains that a lien holder must not exercise control over the property beyond what is necessary for the preservation of their financial interest. 3. Instruction on Damages in Conversion Cases: This instruction outlines the various types of damages that may be awarded in conversion cases involving lien holders. It explains that damages can include economic losses suffered by the lien holder, such as loss of use, loss of profit, or diminution in value of the property. Additionally, it may cover non-economic damages like emotional distress or punitive damages if the lien holder's actions were willful or wanton. 4. Instruction on Mitigation of Damages: This instruction assists the jury in determining whether the lien holder took reasonable steps to mitigate their damages following the conversion. It emphasizes that the injured party has a duty to minimize their losses and may not unreasonably withhold consent to take necessary actions for the preservation or disposal of the property. 5. Instruction on Legal Process and Burden of Proof: This instruction provides an overview of the legal process involved in determining damages for conversion by a lien holder. It clarifies that the plaintiff has the burden of proving the elements of conversion, the lien holder's liability, and demonstrating the extent of damages suffered. Conclusion: The Wisconsin Instruction to Jury Regarding Damages for Conversion by Lien holder serves as a crucial tool for guiding juries in cases involving conversion claims against lien holders. By providing instructions on the elements of conversion, lien holder liability, types of damages, mitigation, and the legal process, it ensures a fair and consistent assessment of remedies available to the injured party. These instructions aim to protect the rights of both lien holders and property owners while promoting justice in Wisconsin's legal system.
