Choses In Action - Law Dictionary Search Results
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chose in action see chose ...
Choses 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 in action
Chose in action, embraces all rights of a kind enforceable only by action not by possession, Torkington v. Magee, (1902) 2 KB 427, Halsbury's Laws of England, Vol. 4(1), para 653, p. 295....
reduce
reduce re·duced re·duc·ing 1 : to make smaller 2 a : to convert (a chose in action) into a chose in possession [enforcement action sought to to possession her property interest in the…determination of money damages "Haynes v. Contat, 643 N.E.2d 941 (1994)"] b : to convert by enforcement through litigation [may his claim to judgment, foreclose or otherwise enforce the security interest "Uniform Commercial Code"] re·duc·ibil·i·ty [-dü-sə-bi-lə-tē, -dyü-] n re·duc·ible [-dü-sə-bəl, -dyü-] adj re·duc·ibly adv re·duc·tion [ri-dək-shən] n reduce to practice : to cause to undergo reduction to practice ...
right of action
right of action 1 : a right to begin and prosecute an action in the courts (as for the purpose of enforcing a right or redressing a wrong) 2 : chose in action at chose ...
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...
chose
chose [Anglo-French, literally, thing, from Old French, from Latin causa legal case, reason, cause] : a piece of personal property chose in action : a right to something (as payment of a debt or damages for injury) that can be recovered in a lawsuit ;also : a document (as a check or stock certificate) embodying such a right chose in possession : something that is in one's actual possession or can be possessed ...
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...
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