California Civil Code 3080.11 – The undertaking to be substituted for livestock shall be by the owner …
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The undertaking to be substituted for livestock shall be by the owner to pay to the lienholder an amount equal to the sum of (1) the fair market value of the livestock sought to be recovered, and (2) the costs to be incurred by the lienholder in order to assemble and turn over the livestock.
(Amended by Stats. 1982, Ch. 517, Sec. 78.)
Terms Used In California Civil Code 3080.11
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Livestock: means any cattle, sheep, swine, goat, or horse, mule, or other equine. See California Civil Code 3080