Conversion is an intentional exercise of dominion over another’s personal property that seriously interferes with the owner’s right of control. The remedy is the full value of the property, which is why it is pleaded alongside contract claims.

Intent goes to the act, not to wrongfulness. A defendant who genuinely believed it had a right to the property is still liable if it exercised dominion.

Money. Conversion of money is recognized where the funds are identifiable and specific — a segregated account, funds held in trust, an escrow — rather than a general obligation to pay. A claim for conversion of an unpaid debt fails.

Intangibles. Traditional doctrine required tangible property, but modern authority extends conversion to intangibles merged in a document, and increasingly to electronic records and domain names.

Demand and refusal may be necessary where the original possession was lawful, as with a bailee or a departing employee retaining company property. Sending a written demand is therefore a practical prerequisite.

Statutory conversion in some states adds treble damages and attorney fees, with an additional element such as knowledge that the property was converted.

Common commercial settings. Retention of equipment after termination, misdirected wire transfers, disposal of goods held on consignment, and appropriation of company data by departing employees.