Choses In Action - Law Dictionary Search Results
Home Dictionary Name: choses in actionChoses in action
Choses in action, or things in action in the literal sense means things recoverable by suit or action at law as contrasted with things or choses in actual physical possession, 2 Bl Com (14th Edn.) 396, Halsbury's Laws of England, Vol. 35, para 1205, p. 728....
Chose
Chose [Fr., a thing]; it is used in divers senses, of which the four following are the most important:--(1) Chose local, a thing annexed to a place, as a mill, etc.(2) Chose transitory, that which is movable, and may be taken away, or carried from place to place.(3) Chose in action, otherwise called chose in suspense, a thing of which a man has not the possession or actual enjoyment, but has a right to demand by action or other proceedings, as a debt, bond, etc. A well-known rule of the Common Law was that no possibility, right, title, or thing in action, could be assigned to a third party, for it was thought that a different rule would be the occasion of multiplying litigation: as it would in effect be transferring a lawsuit to a mere stranger, though the assignee might, at law, and was assisted in equity to sue the debtor in the name of the assignor. At law, therefore, with the exception of negotiable instruments, an interesse termini, and some few other securities, this until 1873 c...
Dearle v. Hall
Dearle v. Hall. The rule which takes its name from this case, reported 1823, 3 Russ. 1, originated with the bankruptcy rule conferring the priority of assignments of choses in action according to the date of notice to the debtor by the assignment, Ryall v. Rowles, 1 Ves Sess 348. Before 1926 the rule was that the priority of equitable assignments of debts and other choses in action was determined by priority in date of notice to the trustees or other owners of the legal interest in the property assigned, see Ward v. Duncombe, 1893 AC 369. The rule did not extend to equitable interests in land except to proceeds of land held on trust for sale, see Lloyd's Bank v. Pearson, (1901) 1 Ch 685, and QUI PRIOR EST TEMPORE POTIOR EST JURE. S. 137 of the Law of Property Act, 1925, has extended the rule to dealings with equitable interests in land, capital money (see s. 205(1)(xxvi.) of the Act), and securities representing capital money effected after 1925. To effect priority among competing assi...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
Pawn or Pledge
Pawn or Pledge [fr. pignus, Lat.], a bailment of goods by a debtor to his creditor, to be kept till the debt is discharged.A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the whole legal title passes conditionally to the mortgagee; and if the goods be not redeemed at the stipulated time, the title becomes absolute at law although equity allows a redemption. But in a pledge, a special property only passes to the pledgee, the general property remaining in the pledgor. Also, in the case of a pledge, the right of a pledgee is not consummated, except by possession; and, ordinarily, when that possession is relinquished, the right of the pledgee is extinguished or waived. But, in the case of a mortgage of personal property the right of property passes by the conveyance to the mortgagee, and the possession is not or may not be essential to create or support the title.As to things which may be the subject of pawn: These are, ordinarily, goods a...
Personal property
Personal property, money, goods, cattle, chattels, stocks, shares, securities, debts, etc., and also leases for years, however long. Personal property is either in possession, or in action, where a man has not the actual occupation of the thing, but only a right to it arising upon some contract, and recoverable by an action at law.Any person may assign personal property, including chattels real, directly to himself and another person or other persons or corporation, by the like means as he might assign the same to another, Law of Property Amendment Act, 1859, s. 21.This was extended by the (English) Emergency Act, 1881, to conveyances of freehold land or choses in action by a husband to a wife or e contra. Now, by the (English) Law of Property Act, 1925, s. 72, a person may convey real or personal property to himself alone.In the case of real property there can be no such thing as an absolute ownership in the subject-matter, i.e., land; the utmost that any one, even an owner in fee sim...
Assignment
Assignment, 'assignment' means an assignment in writing by act of the parties concerned. [Semiconductor Integrated Circuits Layout-Design Act, (37 of 2000), s. 2(b)]'Assignment' means the transfer of the claim, right or property to another, C.G.T. v. Ms Getti Chettiar, (1971) 2 SCC 741: AIR 1971 SC 2410 (2413). [Gift-tax Act, 1958 s. 2(XXIV)]A transfer of an estate or interest in property. The usual operative verb is 'assign,' but any other word indicating an intention to make a complete transfer, e.g., 'convey,' will amount to an assignment.Assignment by Lessor or Lessee, Effect of. A lessor, notwithstanding assignment of his reversion, continues liable to his lessee on covenants running with the land, Stuart v. Joy, 1904 (1) KB 362, and so does a lessee to his lessor, notwithstanding assignment of his term, Barnard v. Godscall, (1613) Cro. Jac. 309. The assignee of a term is liable equally with the lessee (though the lessor cannot recover against both) during his possession, but unle...
Covenant
Covenant [fr. Covenant, Fr.], any agreement, convention, or promise of two or more parties, by deed in writing, signed, sealed, and delivered, by which either of the parties pledges himself to the other that something is either done or shall be done, or stiuplates for the truth of certain facts. He who thus promises is called the covenantor; and he to whom it is made the covenantee. A covenant being part of a deed is subject to the general rules for the construction of such instruents; as, first, to be always taken most strongly against the covenanter and most in favour of the covenantee; secondly, to be taken according to the intent of the parties; thirdly, to be construed ut res magis valeat quam pereat; fourthy, when no time is limited for its performance, that it be performed in a reasonable time.Covenants are personal obligations; formerly the did not bind theheirs of the covenanter unless the heirs were named and inthat case only to the extent of the lands descended, but if made ...
Married women's property
Married women's property, At Common Law, a woman, by marrying, transferred the ownership of all her property, real and personal, present and future, to her husband absolutely, so that he might sell, pay his debts out of, give away, or dispose by will of it as he pleased, with these exceptions and modifications:-1) Her freehold estate became his to manage and take the profits of during the joint lives only. After his death, leaving her surviving, it passed to her absolutely; after her death, leaving him surviving, provided that it was an estate in possession and issue who could in her it had been born during the marriage, it passed to him as 'tenant by the curtesy (q.v.) of England,' during his life, and after his death to her heir-at-law.(2) Her leasehold estate, her personal estate in expectancy, and the debts owing to her and other 'choses in action,' became his absolutely if he did some act to appropriate or reduce them into possession during the marriage, or if he survived her. If ...
good
good bet·ter best 1 : commercially sound or reliable [a risk] 2 a : valid or effectual under the law b : free of defects 3 a : characterized by honesty and fairness b : conforming to a standard of virtue [shall hold their offices during behavior "U.S. Constitution art. III"] ;also : characterized by or relating to good behavior n 1 : advancement of prosperity and well-being [for the of the community] 2 : an item of tangible movable personal property having value but usually excluding money, securities, and negotiable instruments usually used in pl. : as a pl : all things under section 2-105 of the Uniform Commercial Code that are movable at the time of identification to the contract for sale other than the money that is to be paid, investment securities, and choses in action b pl : all things under section 9-104 of the Uniform Commercial Code that are movable at the time that a security interest in them attaches or that are fixtures but excluding money, documents,...
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