Knudsen v. Hill

In this action by plaintiff Knudsen for the conversion by defendants Hill of a pledged promissory note belonging to plaintiff then having a face value of $24,674.20, judgment was for plaintiff, but the court fixed the value of the converted note at $16,052.26.

Knudsen appeals, his sole contention being that the court should have allowed the full face value of the converted note. We sustain this contention, holding that damages for the conversion of a secured promissory note where there is no personal liability for deficiency judgment on the part of the maker are properly measured by the value…