The Doctrine Of conversion Flashcards
What is conversion?
The meaning and essence of this fictitious doctrine has been embodied in the dictum of Bowen
LJ in Attorney General v.
Hubbuck
“When money is agreed or directed to be turned into land or land agreed or directed to be turned into money… equity would regard that which ought to be done as done”.
Explain the rule in Lawes v Bennett
The statement you provided refers to a legal principle known as the “rule in Lawes v Bennett.” This rule deals with situations where a property owner agrees to sell their real estate but passes away before the sale is completed. According to the rule, if such a situation occurs, the deceased owner’s estate is converted into personal property, and the party who entered into the contract to buy the real estate has the option to choose whether they want to proceed with the contract or not.
In other words, if the property owner dies before the sale is finalized, the buyer can decide whether they still want to go through with the purchase or not. If they choose to proceed, the deceased owner’s estate will be treated as personal property, and the buyer can continue with the contract. However, if the buyer elects not to proceed, they have the right to back out of the contract due to the owner’s death.
It’s important to note that laws can vary in different jurisdictions, so it’s always advisable to consult with a legal professional who can provide specific and up-to-date information based on the relevant laws in your jurisdiction.
The rule in Flechter v Ashburner
“Money directed to be employed in the purchase of land, and land directed to be sold and turned into money, are to be considered as that species of property into which they are directed to be converted: and this in whatever manner the direction is given: whether by will, by way of contract, marriage articles, settlement, or otherwise, and whether the money is actually deposited or only covenanted to be paid, whether the land is actually conveyed or only agreed to be conveyed. The owner of the fund or the contracting parties may make land money or money land.”
What principle of equity is this based off
Equity looks at some what ought to be done.
What was Keaton opinion on the development of the doctrine
It started in his opinion in the 18th century and can be traced to the unfairness of allowing a trustee to postpone the sale and purchase outlines in the trust, there by negatively affecting the beneficiary or trustee.
Is the doctrine of conversion well recognized in Nigeria
Nope
Miltland stated that the doctrine will not have as much importance in England except
If a person  dies inter—state, which means without a successor
