CACI 3903K Loss or Destruction of Personal Property (Economic Damage)
California Civil Jury Instructions CACI
3903K Loss or Destruction of Personal Property (Economic Damage)
[Insert number, e.g., “11.”] The [loss/destruction] of [name of plaintiff]’s [item of personal property].
To recover damages for the [loss/destruction], [name of plaintiff] must prove the fair market value of the [item of personal property] just before the harm occurred.
“Fair market value” is the highest price that a willing buyer would have paid to a willing seller, assuming:
1.That there is no pressure on either one to buy or sell; and
2.That both buyer and seller have reasonable knowledge of all relevant facts about the condition and quality of the [item of personal property].
New September 2003; Revised November 2019
Directions for Use
The definition of “fair market value” has been adapted from Treasury regulations. (See 26 C.F.R. § 20.2031-1(b); United States v. Cartwright (1973) 411 U.S. 546, 550 [93 S.Ct. 1713, 36 L.Ed.2d 528]; see also CACI No. 3501, “Fair Market Value” Explained; Code Civ. Proc., § 1263.320 [definition for eminent domain].)
Sources and Authority
•“ ‘As a general rule the measure of damage for the loss or destruction of personal property is the value of the property at the time of such loss or destruction.’ ” (Hand Electronics, Inc. v. Snowline Joint Unified School Dist. (1994) 21 Cal.App.4th 862, 870 [26 Cal.Rptr.2d 446], internal citation omitted.)
•“It is well established that under [Civil Code] section 3333, the measure of damages for the loss or destruction of personal property is generally determined by the value of the property at the time of such loss or destruction.” (Pelletier v. Eisenberg (1986) 177 Cal.App.3d 558, 567 [223 Cal.Rptr. 84].)