Our Blog

Welcome to our blog


A Chose Legal Definition

Posted 27. September 2022 by Logistik-Express in Allgemein

A choice of possession refers to a set of rights and remedies (which are inextricably linked in England)[20] of an object of material personal property that may be physically owned by the owner and may be transferred by delivery. The relationship, or rather the ability to control and apparent domination is required as the basis for the so-called vote in possession. This is impossible with intangible rights. Ownership and possession-based techniques are of little relevance to modern financial markets, but still play a vital role in commercial and private lending. [21] An order in possession therefore refers not only to the right to enjoy or possess a thing, but also to the actual or constructive enjoyment of it. Ownership can be absolute or qualified. It is absolute if the person is completely and completely the owner or owner of the thing; It is qualified if it “does not have an exclusive or permanent right, but a right that can sometimes exist and cannot exist at other times”, as in the case of ferae naturae (“wild” or wild animals). An election in possession is freely transferable by delivery. Prior to the Married Women`s Property Act of 1882, a woman`s decisions belonging to her were transferred to her husband immediately after her marriage, while her decisions in action did not belong to her husband until he took possession of them. However, this difference is practically obsolete.

[17] CHOSEN, property. It is a French word that means something. In the law, it applies to personal property; as the elected in possession are the personal things in one`s possession; The decisions in action are, because the owner does not have possession, but simply a right of action for his possession. 2 bl. 889, 397; 1 chit. Exercise. 99; 1 supp. to ves. Jr. 26, 59. Chitty defines choice in action as the right to receive or recover a claim, money or damages for breach of contract or tort in connection with the contract, but which cannot be performed without action, and therefore refers to choices or things in action.

Bees; Harr. Dig. In action Chitty`s Eq. Dig. b. t. Empty 1 chap. Pr. 140. 2. It is one of the characteristics of a person chosen in action that he or she cannot be assigned under the common law.

2 John 1; 15. Fair 388; 1. Cranch, 367 But bills of exchange and promissory notes, although chosen in action, may be awarded by indorsement if they are payable or by delivery if they are payable to the holder. See Change. 3. Obligations are transferable in Pennsylvania and possibly in other states by law. Unfairly, however, all decisions that are in action are transferable and the assignee has a reasonable right to enforce the performance of the obligation on behalf of the assignor. 4. Fair 511; 3 days. 364; 1 Wheat.

236; 6 Selection. 316 9 Ow 34; 10. Fair 316; 11 Mass 157, n. 9 p. & R. 2441; 3 Yeates, 327; 1 binn. 429; 5 stew. & Port. 60; 4 Margin. 266; 7 cann.

399; 2 Green, 510; Harp. 17; Empty, in general, Bouv. Index inst. h.t. 4. Ex-selected rights not derived from law or equity are transferable. One thing. The selection is divided into two classes. A selected possession is a tangible object that can actually be owned and appreciated, such as a book or piece of furniture. An election in action is a right (e.g., a right to collect a debt) that can be enforced by a legal act, the choice can be legal or equitable.

Prior to the Judicature Acts, which merged the courts of equity and common law into a jurisdiction where the choice could only be claimed guilty (whether by contract or tort) by bringing a lawsuit, it was called a legal choice in prosecution; If the election could only be claimed through an equitable lawsuit, as inheritance or as money held in a trust, it was called a fair election in action. Prior to the Judicature Acts, a court decision was not transferable, i.e. the assignee could not bring an action on his own behalf. There were two exceptions to this rule:[17] A choice in action or thing in action[7][8] is a right to sue. Since Torkington v. Magee, it has become commonplace since Torkington v. Magee that a decision to act is a legal term used to describe all personal property rights that can only be claimed or enforced through a lawsuit. It is therefore a categorization of property interests, the execution of which cannot be ensured without recourse to a court. [4] It is an intangible property right recognized and protected by law, which does not exist except for legally recognized recognition and which does not confer the current possession of a tangible object. [9] Since intangible assets such as debt repayment claims or rights assigned under contracts cannot be taken into possession, they cannot be classified as selected assets.

[10] In certain circumstances, the person elected in action establishes a separate property right, regardless of the property to which he or she may relate. [11] This new property may be subject to royalties or assignments. For example, the right to assert and receive a debt, to receive money as damages for breach of contract, or to receive compensation for an injustice is a choice. There are two consequences to this: first, claims that cannot be enforced by the chosen holder without the execution of legal proceedings. Second, these examples themselves can be assigned, renovated, or otherwise used by the selected owner. [12] Where the economic value of the asset is the right to sue. Historically, documents that represented a title for a particularly chosen deed, such as bonds or other documentary intangible assets, were themselves chosen in possession because, like promissory notes, they were negotiable and could therefore be physically seized. That is, they were transferred only by handing over the document itself. Today, most bonds and other financial instruments are dematerialized and issued as a single global bond. The consequence is that most financial instruments are now held by the economic party against the broker who holds assets in a securities account such as CREST, where investors own shares nested in trusts rather than the note actually issued. [13] With the development of dematerialized securities, the loop loops certain objects that are now called “chosen in action”, such as bonds or bills of lading, which the court initially developed as choices in action and which no longer act as choices in possession without the use of a negotiable instrument. Currently, receivables treated as “locked” in the document include liens, negotiables, and deposits.

A choice in action is a broad term used to describe a property right or the right to own something that can only be obtained or enforced through legal action. It is used, on the other hand, to choose in possession, which refers to cases where ownership of money or property belongs to one person, but ownership is held by another person. Alternative historical uses include a selected restaurant, something attached to a place, such as a mill; a chosen transitorium, something mobile that can be transported from one place to another. [Citation needed] Choices in action are particularly important for the legal allocation of interests and therefore play a crucial role in the functioning and coordination of financial markets. Some rights, such as the right to reverse a mortgage, are a right of action, but not a chosen right or part of it that can be assigned. [14] As the category is often broad, there have been many attempts to expand the category so that new intangible assets can fall under assets chosen in action. These requirements are important because they prevent the transferee from prosecuting guilt without notice. Until termination by the debtor, there is still set-off between the assignor and the debtor, the debtor does not know whether it has to pay someone other than the assignor; and the Ctentiary may lose precedence over subsequent assignees who terminate. [19] The difference between current and future decisions in action was compared to the difference between a tree and its fruits.

Chosen (pronounced: /ʃoʊz/, French for “thing”) is a term used in the common law tradition to refer to property rights, specifically a combined set of rights. [1] A selection describes the right of execution that a party has over an object. The use of chosen extends from the English use of French within the courts. [2] In English and Commonwealth law, all personal matters fall into one of two categories, either choices in action or choices in possession. [3] English law uses choice to refer to a set of rights that traditionally relate to property that can be used in certain circumstances.

--> -->