Legal Definitions - double value

Double value refers to an amount that is twice the original or actual worth of something. In a legal context, it often signifies a penalty or a specific calculation mandated by law or contract, requiring one party to pay or compensate another with an amount equivalent to twice the item's or property's standard value.

• Example 1: Landlord-Tenant Holdover

  Imagine a tenant whose one-year lease on a commercial storefront ends on October 31st. The landlord provided written notice three months in advance, clearly stating that the lease would not be renewed and the tenant needed to vacate. However, the tenant fails to move out and continues to operate their business from the premises throughout November and December. The original monthly rent for the storefront was $5,000.

  In many jurisdictions, laws allow a landlord to claim "double value" of the property's rent for any period a tenant unlawfully holds over after receiving proper notice to quit. In this scenario, the tenant would be liable for $10,000 per month (twice the original $5,000 rent) for November and December, totaling $20,000, as a penalty for not vacating the property as required.

• Example 2: Consumer Protection Against Theft

  A state law aims to protect consumers from retail theft, particularly when goods are stolen from a store. The law specifies that if an individual is caught shoplifting and the stolen merchandise is not recovered in saleable condition, the store owner can sue the shoplifter for "double value" of the stolen items. Suppose a person attempts to steal electronics worth $800, and during the apprehension, the items are damaged beyond repair.

  Under this law, the store could pursue a civil claim against the individual for $1,600 (twice the $800 value of the damaged electronics). This "double value" serves as a deterrent against theft and provides enhanced compensation to the business for their loss, beyond just the original cost of the items.

• Example 3: Contractual Penalty for Misuse of Funds

  A non-profit organization receives a grant from a foundation with strict conditions that the funds must be used exclusively for a specific educational program. The grant agreement includes a clause stating that if any portion of the funds is intentionally diverted for unauthorized purposes, the non-profit must repay "double value" of the misused amount. The non-profit's treasurer mistakenly (or intentionally) uses $10,000 of the grant money to cover unrelated administrative expenses.

  Upon discovery, the foundation could invoke the "double value" clause in the contract. This would require the non-profit to repay $20,000 (twice the $10,000 that was misused) to the foundation. This contractual provision acts as a strong disincentive against misallocating funds and ensures a significant penalty for breaching the grant's terms.