Damages for Conversion: Everything you need to know
In conversion cases, damages are given in an effort to make up for the loss a victimized party suffered as a result of someone wrongfully taking their property. The worth of the converted property at the time of the wrongful taking, plus interest up to the date of the trial, may be recoverable by the owner. Damages are intended to provide the harmed party with complete compensation for their actual losses. By presenting enough proof to give the jury a fair and reasonable approximation of damages, courts have ruled that damages must be demonstrated with a reasonable degree of certainty.
The owner of the taken property might be entitled to its worth at the time of the theft, plus interest accrued up until the trial’s start date. Damages ought to cover all real losses in full. Damages must be proven in court by providing enough proof for a jury to determine their fair and reasonable worth.
Some examples of conversion damages include:
1. Value of the property: If someone took or used their property without permission, the owner might be eligible for compensation for it.
2. Loss of use: The owner may be eligible for compensation if they were unable to use their property while it was being converted.
3. Costs of recovery: If the owner had to file a lawsuit to regain possession of the property, they may be eligible for reimbursement for related expenses, including legal fees and court costs.
4. Loss of income: The owner may be eligible to compensation if the conversion caused them to lose revenue, such as rental income from a property.
5. Punitive damages: In some circumstances, the judge may grant punitive damages, which are meant to punish the convert and discourage others from doing the same.
It’s crucial to remember that the amount of damages awarded will differ based on the particulars of the case and the applicable laws. When determining the quantity of damages to be awarded, the court will also take into consideration the type of conversion (intentional or accidental), the scope of the damages, and any mitigating circumstances.