11:44
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Simple English definitions for legal terms
highest proved value
Read a random definition: criminal law
A quick definition of highest proved value:
Highest proved value refers to the maximum value that can be proven in a legal case involving the conversion of property. It is the highest amount that the plaintiff can recover in a trover action, which is a legal action for the recovery of personal property that has been wrongfully taken or detained. In simpler terms, it is the highest amount of money that can be proven to have been lost due to the conversion of property.
A more thorough explanation:
Definition: The greatest value that the converted property reached from the time of the conversion until trial, as proved by the plaintiff in a trover action. It is the maximum amount that a plaintiff can recover.
Example: In a trover action, if a plaintiff proves that the converted property was worth $10,000 at the time of conversion and $15,000 at the time of trial, the highest proved value would be $15,000, and that would be the maximum amount that the plaintiff can recover.
Explanation: The example illustrates the definition of highest proved value in a trover action. The plaintiff must prove the value of the converted property at the time of conversion and at the time of trial. The highest proved value is the maximum amount that the plaintiff can recover, even if the property was worth more at some other time.