Conversion is the tort equivalent to the crime of theft. It involves the unauthorized taking or use of someone else's property and can result in damages being awarded to the rightful owner.
Inventory shortage, also known as shrinkage, refers to the unexplained difference between the physical count of inventory and the amount recorded in accounting records. This discrepancy can be due to various factors, ranging from normal evaporation of a liquid to theft.
Involuntary exchange occurs when property is destroyed, stolen, condemned, or disposed of under the threat of condemnation, and the owner receives money or other property as compensation.
