Any authorized ownership and exercise over an instrument is referred to as conversion.

Conversion

Unauthorized act of taking or using someone's property, leading to the deprivation of the owner's rights.

Authorized Ownership

The legal right or title to own something that is recognized or sanctioned by law or proper authority.

Instrument

A legal document formalizing an agreement or right, often used in contexts such as financial instruments or legal contracts.

Acquire knowledge on the judicial outcomes of unauthorized autographs and falsification on negotiable financial instruments.

Verified Answer

Final Answer :

False

Explanation :

Conversion of an instrument is an unauthorized assumption and exercise of ownership over it.

Learning Objectives

Acquire knowledge on the judicial outcomes of unauthorized autographs and falsification on negotiable financial instruments.