(1)Co-ownership is no defence to an action founded on conversion or trespass to goods where the defendant without the authority of the other co-owner—
(a)destroys the goods, or disposes of the goods in a way giving a good title to the entire property in the goods, or otherwise does anything equivalent to the destruction of the other's interest in the goods, or
(b)purports to dispose of the goods in a way which would give a good title to the entire property in the goods if he was acting with the authority of all co-owners of the goods.
(2)Subsection (1) shall not affect the law concerning execution or enforcement of judgments, or concerning any form of distress.
(3)Subsection (1)(a) is by way of restatement of existing law so far as it relates to conversion.