Reconversion in Europe
Definition of Reconversion
Notional conversion may be put an end to by an absolute owner who being sui juris is competent to do so, by electing to take the property in its actual state. The Court will not then direct a conversion, because the owner might immediately reconvert, and ” Equity, like nature, will do nothing in vain ” (per Lord Cowper, Seeley v. Jago, 1 P. W. 389). So where the obligation to lay out money in land and the right to call for the money vest in the same person, the obligation is at an end, and the property is ” at home ” or reconverted (Chichester v. Bickerstaff, 2 Vern. 295). Similarly, where trustees have a power to sell land comprised in a will or settlement, the cestuis quc tnistent, where the property has become vested in them absolutely and they are sui juris, may, by electing to take the property as it stands, put an entire end to the power and the trusts (Cotton’s Trustees, He, 19 Ch. D. 624)
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Reconversion | Reconversion in the Family Law Portal of the European Encyclopedia of Law. |
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Definition of Reconversion is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.
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