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Thing in action: Difference between revisions
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A [[thing in action]] — in kinder days known as a [[chose in action]] — is an intangible right that only the law can see | {{g}}A [[thing in action]] — in kinder days known as a [[chose in action]] — is an intangible right that only the law can see — that you wouldn’t think existed at all but for the fact you can sue on it — and is to be contrasted with to something even a ''non''-lawyer can stub {{sex|her}} toe on. | ||
*'''Things you can stub your toe on''': pavements, rocks, watches you stumble upon by the sea when taking an after-dinner stroll; also, the more mundane and, alas for our purposes, ''germ''ane, [[Bearer security|bearer securities]] and other [[financial instruments]] to which title passes by delivery. Other than, amusingly, [[cash]], which like Ford Fairlane’s love, cannot be held. | |||
*'''Things in action''': [[Guarantees]]; [[indemnities]]; claims for compensation for wrongdoing which would be entertained by a well-directed member of the judiciary. You know: things which you ''can’t'' stub your toe on, but which can nonetheless trip you up. | |||
[[thing in action|Things in action]] count as [[property]] for the purposes of the [[Law of Property (Miscellaneous Provisions) Act 1994]], and expressions like [[full title guarantee]]. | |||
Which is nice. | |||
{{Lex situs and abwos}} | |||
{{Sa}} | |||
*A [[legal assignment]] as compared to an [[assignment by way of security]] | |||
*[[The blind watchmaker]] | |||
{{egg}} | |||