Dictionary Search: "Conversion" - Pakistan Law Portal

Conversion

n. 1. The act of changing from one form to another; the process of being exchanged.

bond conversion

The exchange of a convertible bond for another asset, usu. stock.

constructive conversion

See CONVERSION (2).

conversion by detention

Conversion by detaining a chattel in a way that is adverse to the owner or other lawful possessor. ( Merely to possess a chattel without title is not conversion. The defendant must have shown an intention to keep it in defiance of the plaintiff.

conversion by estoppel

A judicial determination that a conversion has taken place -though in truth one has not - because a defendant is estopped from offering a defense This occurs, for example, under the traditional rule that a bailee is estopped from denying the bailor's title even if the bailor has no title to the chattel.

conversion by taking

Conversion by taking a chattel out of the possession of another with the intention of exercising a permanent or temporary dominion over it, despite the owner's entitlement to use it at all times.

conversion by wrongful delivery

Conversion by depriving an owner of goods by delivering them to someone else so as to change the possession.

conversion by wrongful destruction

Conversion by willfully consuming or otherwise destroying a chattel belonging to another person.

conversion by wrongful disposition

Conversion by depriving an owner of goods by giving some other person a lawful title to them.

conversion premium. Securities

The surplus at which a security sells above its conversion price.

conversion price

Securities. The contractually specified price per share at which a convertible security can be converted into shares of common stock.

conversion ratio

1 The number of common shares into which a convertible security may be converted. 2. The ratio of the face amount of the convertible security to the conversion price.

conversion security

The security into which a convertible security may be converted, usu. common stock.

conversion value

A convertible security's value as common stock. ( For example, a bond that can be converted into ten shares of stock worth $40 each has a conversion value of $400. See BOND CONVERSION.

direct conversion

The act of appropriating the property of another to one's own benefit, or to the benefit of another. ( A direct conversion is per se unlawful, and the traditional requirements of demand and refusal of the property do not apply.

equitable conversion

The act of treating real property as personal property, or vice versa, in certain circumstances. ( Courts usu. apply the doctrine of equitable conversion to recognize the transfer of land when a party dies after the signing of an agreement to sell real property but before the transfer of title. Equitable conversion is based on the maxim that equity regards as done that which ought to be done.

forced conversion

The conversion of a convertible security, after a call for redemption, when the value of the security that it may be converted to is greater than the amount that will be received if the holder permits the security to be redeemed.2. Tort & criminal law. The wrongful possession or disposition of another's property as if it were one's own; an act or series of acts of willful interference, without lawful justification, with any chattel in a manner inconsistent with another's right, whereby that other person is deprived of the use and possession of the chattel. - convert, vb.

fraudulent conversion

Conversion that is committed by the use of fraud, either in obtaining the property or in withholding it.

fraudulent conversion.