Conversion - Law Dictionary Search Results

Home Dictionary Name: conversion

conversion

conversion 1 a : the act of changing from one form or use to another b : the act of exchanging one kind of property for another ;esp : the act of exchanging preferred stocks or bonds for shares of common stock of the same company usually at a preset ratio or price and at a preset time equitable conversion : the constructive conversion of real property into personal property esp. as a result of a contract for sale of land or testamentary instructions to sell real estate and divide the proceeds NOTE: Equitable conversion is a legal fiction under which the seller of a real property becomes, upon the execution of a contract for the sale of the property, the owner of personal property in the form of legal title to the property that secures payment of the purchase price. The purchaser is deemed to be the holder of equitable title in and owner of the real property, having the rights and being subject to the liabilities that attend that status. In the case of a will in which a property ...

Conversion

Conversion, with its grammatical variations, includes alteration or change of whatever nature. [Places of Worship (Special Provisions) Act, 1991 (42 of 1991), s. 2 (b)]--Where a man who is, lawfully or unlawfully, in possession of the goods of another deals with them in a manner which is inconsistent with the dominion of the owner over them, he is guilty of a conversion. It must be 'an unauthorized act which deprives another of his property permanently or for an indefinite time', Hiort v. Bott, (1874) LR 9 Ex 89. The taking possession of the goods of another is a trespass, as distinct from a conversion, though the latter term is often used to include both. Refusal to restore the goods is prima facie sufficient evidence of a conversion, though it does not amount to a conversion, 10 Rep. 56. See Fouldes v. Willoughby, (1841) 8 M&W 540; Hollins v. Fowler, (1875) LR 7 HL 757; Union Credit Bank Cases, (1899) 2 QB 205; Clerk and Lindsell on Torts, 7th ed., ch. xi.; and TROVER....

conversion clause

conversion clause a provision in some ARMs allowing it to change to a fixed-rate loan at some point during the term. Usually conversions are allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed rate mortgages. There may be additional cost for this clause. Source: U.S. Department of Housing and Urban Development ...

Conversational

Pertaining to conversation in the manner of one conversing as a conversational style...

Conversion and detinue

Conversion and detinue, a conversion is an act of wilful interference, without lawful justification, with any chattel in a manner inconsistent with the right of another, whereby that other is deprived of the use and possession of it. If a carrier or other bailee wrongfully and mistakenly delivers the chattel to the wrong person or refuses to deliver it to the right person, he can be sued as for a conversion. The action of detinue is based upon a wrongful detention of the plaintiff's chattel by the defendant, evidence by a refusal to deliver it upon demand and the redress claimed is not damages for the wrong but the return of the chattel or its value. If a bailee unlawfully or negligently loses or parts with possession he cannot get rid of his contractual liability to restore the bailor's property on the termination of the bailment and if he fails to do, he may be sued in detinue, Dhian Singh Sobha Singh v. Union of India, AIR 1958 SC 274 (278)....

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Conversion - Law Dictionary Search Results

conversion

Conversion

conversion clause

Conversational

Conversion and detinue

equitable conversion

fraudulent conversion

involuntary conversion

Conversable

Conversableness