I would think a pet would be considered personal property, just like a golf club, and if it was damaged or destoyed the owner's claim would be limited to the value of the animal. I don't think the owners would be entitled to anything for their emotional distress.
It was a snake that got little fluffy, but it could just as easy been another big dog that got him. They must have proven that the snake's owners were somehow negligent in not providing adequate containment for their snake. Who knows, maybe little fluffy was enticing him, kind of like an attractive nuisance to him.
I'm not sure what the standard of care is for the owner of a pet snake compared to other animals, I don't know if it would be considered an "exotic". I know here in Minnesota owners of certain "exotic" animals are held strictly liable. (the courts are almost ruling it that way for certain dog breeds now too) Correct me Fabs, but I understand strict liability to mean that if the animal did it at all, the owner is considered at fault regardless if they're negligent or not.
Anyway, too bad about the dog, but I'm glad it wasn't a kid.
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