2  Clarke  v.  Franklin,  4  K.  &  J.  263.
3  Ibid.
190


CHAPTER  X.
RECONVERSION.
Reconversion.  Eeconversion  may  be  defined  as  that  notional  or

inaaginary  process  by  which  a  prior  notional  con-
version is  annulled  and  taken  away,  and  the  notion-
ally  converted  property  is  restored  in  contemplation
of  a  court  of  equity  to  its  original  actual  uncon-
verted quality.  Thus  real  estate  is  devised  on  trust
to  sell  and  pay  the  proceeds  to  A. ;  by  virtue  of  the
direction,  A.  becomes  absolutely  entitled  from  the
moment  of  the  testator's  death  to  the  property  as
personalty,  whether  an  actual  sale  has  taken  place
or  not.  Biit  A.  has  a  right  to  elect  in  what  form
,he  will  take  the  property.  He  has  a  right  to  tell
the  trustees,  "I  prefer  the  land  instead  of  the  pur-
chase-money of  the  land."  And  according  to  his
election  the  property  will  vest  in  him,  as  land  or  a^
money.
recSnTersion.^  °*  '^^^  ^^®®^  ^^  t^^^  subject  range  themselves  under
two  heads.  Reconversion  may  take  place  in  either
of  two  w&ys — viz.,  either

I.  By  the  act  of  the  parties  ;  or,

II.  By  operation  of  law.
I.  By  the  act  of         I.  Reconversion  bv  the  act  of  the  parties.
