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Chose in possession: Difference between revisions
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{{ | {{a|security|}}To be contrasted with [[chose in action]], a chose in possession is something which you can physically hold, as distinguished from something you are legally entitled to, whether or not you hold it, and whether or not it even has physical extension at all. | ||
So: A cuddly toy is a chose in possession. A {{t|contract}}ual right to be delivered a cuddly toy that you have just bought for dear junior on Amazon is a [[chose in action|chose in ''action'']]. | So: A cuddly toy is a chose in possession. A {{t|contract}}ual right to be delivered a cuddly toy that you have just bought for dear junior on Amazon is a [[chose in action|chose in ''action'']]. | ||
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A physical [[bearer bond]] is both a [[chose in action]] ''and'' a chose in possession. | A physical [[bearer bond]] is both a [[chose in action]] ''and'' a chose in possession. | ||
A bank note? Probably a chose in possession — at least to the extent of its papery self — but there is an argument that, as an [[Cash|articulation of abstract value]], it is ''not even that''. | A [[bank note]]? Probably a chose in possession — at least to the extent of its papery self — but there is an argument, which the JC is fond of, that, as an [[Cash|articulation of abstract value]], it is ''not even that''. Cash can be held but not owned. | ||
A debate that, before the [[great bifurcation]], was almost inconceivable to frame — people would look at you funny if you tried to distinguish between the physical and theoretical value of a bank note — and was seen as rather arid academic snorefest for a long time after it, until the sudden arrival of [[crypto asset]]s onto the scene. | A debate that, before the [[great bifurcation]], was almost inconceivable to frame — people would look at you funny if you tried to distinguish between the physical and theoretical value of a bank note — and was seen as rather arid academic snorefest for a long time after it, until the sudden arrival of [[crypto asset]]s onto the scene. | ||