Thing in action
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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 —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 her toe on. 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.