What is the legal test for determining the value of stolen property?
California, United States of America
The following excerpt is from People v. Pena, 128 Cal.Rptr. 875, 56 Cal.App.3d 854 (Cal. App. 1976):
As said in People v. Lizarraga (1954) 122 Cal.App.2d 436, 438, 264 P.2d 953, 954, "The value to be placed upon stolen articles for the purpose of establishing a felony charge is the fair market value of the property and not the value of the property to any particular individual."
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