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Chose
''Chose'' (pronounced: , French for "thing") is a term used in common law tradition to refer to rights in property, specifically a combined bundle of rights. A chose is the enforcement right which a party possesses in an object. The use of ''chose'' extends from the English use of French within the courts. In English and commonwealth law, all personal things fall into one of two categories, either choses in action or choses in possession. English law uses ''chose'' to refer to a bundle of rights, traditionally relating to property which may be utilised in certain circumstances. Thus, a chose in action refers to a bundle of personal rights which can only be enforced or claimed by a chose-holder bringing an action through the court to enforce the action. In English law, this category is enormously wide.Holdsworth, W. S., "The History of the Treatment of Choses in Action by the Common Law", 33 ''Harvard Law Review'' 96 This is contrasted with a chose in possession which is a bundle of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assignee
Assignment is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process whereby a person, the ''assignor'', transfers rights or benefits to another, the ''assignee''.For the assignment of claim seTrans-Lex.org/ref> An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee. The right or benefit being assigned may be a gift (such as a waiver) or it may be paid for with a contractual consideration such as money. The rights may be vested or contingent,. and may include an equitable interest. Mortgages and loans are relatively straightforward and amenable to assignment. An assignor may assign rights, such as a mortgage note issued by a third party borrower, and this would require the latter to make repayments to the assignee. A related concept of assignment is novation wherein, by agreement with all parties, one contracting party is replaced by a new party. While novation requ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Bank Of Credit And Commerce International SA (No 8)
''Re Bank of Credit and Commerce International SA (No 8)'' 998AC 214 is a UK insolvency law case, concerning the taking of a security interest over a company's assets and priority of creditors in a company winding up. Facts BCCI made loans to a number of companies and in its contract purported to take as security, in return for the loans, a charge over the money in the bank accounts these companies held with BCCI. In an earlier case, '' In re Charge Card Services Ltd'' Millett J had said it was "conceptually impossible" for a bank to have a charge over assets that were held in an account of its own, on the basis that a bank account is an intangible debt recorded in figures in the bank's own books, and a bank's debt to its customer was not something that the customer could 'own' and charge out. The liquidators of BCCI applied for directions about whether, when they were recovering loans from the main debtor companies they should set off the amounts in credit in the deposit accoun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that turn on questions of U.S. constitutional or federal law. It also has original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." In 1803, the Court asserted itself the power of judicial review, the ability to invalidate a statute for violating a provision of the Constitution via the landmark case '' Marbury v. Madison''. It is also able to strike down presidential directives for violating either the Constitution or statutory law. Under Article Three of the United States Constitution, the composition and procedures of the Supreme Court were originally established by the 1st Congress through the Judiciary Act of 1789. As it has si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tangible Property
In law, tangible property is property that can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property. In English law and some Commonwealth legal systems, items of tangible property are referred to as ''choses in possession'' (or a ''chose in possession'' in the singular). However, some property, despite being physical in nature, is classified in many legal systems as intangible property rather than tangible property because the rights associated with the physical item are of far greater significance than the physical properties. Principally, these are documentary intangibles. For example, a promissory note is a piece of paper that can be touched, but the real significance is not the physical paper, but the legal rights which the paper confers, and hence the promissory note is defined by the legal debt rather than the physical attributes. A unique category of property is money, which in s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Property
Personal property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law (legal system), civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another. Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings). Movable property on land (larger livestock, for example) was not automatically sold with the land, it was "personal" to the owner and moved with the owner. The word ''cattle'' is the Old Norman language, Norman variant of Old French ''chatel'', chattel, and today cheptel (derived from Latin ''capitalis'', "of the head"), which was once synonymous with general movable personal property. Classifications Personal property may be classified in a variety of ways. Intangible Intangible personal property or "intangibles" refers to personal property t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicature Acts
In the history of the courts of England and Wales, the Judicature Acts were a series of acts of the Parliament of the United Kingdom, beginning in the 1870s, which aimed to fuse the hitherto split system of courts of England and Wales. The first two acts were the Supreme Court of Judicature Act 1873 ( 36 & 37 Vict. c. 66) and the Supreme Court of Judicature Act 1875 ( 38 & 39 Vict. c. 77), with a further series of amending acts (12 in all by 1899). By the act of 1873 (ss. 3, 4), the Court of Chancery, the Court of King's Bench (known as the Queen's Bench when there is a female sovereign), the Court of Common Pleas, the Court of Exchequer, the High Court of Admiralty, the Court of Probate, and the Court of Divorce and Matrimonial Causes were consolidated into the Supreme Court of Judicature, subdivided into two courts: the "High Court of Justice" ("High Court"), with (broadly speaking) original jurisdiction, and the "Court of Appeal". Besides this restructuring, the o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Property
Intangible property, also known as incorporeal property, is something that a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property. Description Intangible property generally refers to statutory creations, such as copyright, trademarks, or patents. It excludes tangible property like real property (land, buildings, and fixtures) and personal property (ships, automobiles, tools, etc.). In some jurisdictions, intangible property are referred to as ''choses in action''. Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred). Competitive intangible ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings, depending on its use in the application of different laws and depending on countries and contexts. The word "negotiable" refers to transferability, and " instrument" refers to a document giving legal effect by the virtue of the law. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Consideration is p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bailment
Bailment is a legal relationship in common law, where the owner of personal property ("chattel") transfers physical possession of that property to another, who holds the property for a certain purpose, but retains ownership. The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee". The bailee is the person who possesses the personal property in trust for the owner for a set time and for a precise reason and who delivers the property back to the owner when they have accomplished the purpose that was initially intended. General Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership. To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel for example a car mechanic business when a car has been dropped off for repair. Although a bailment relationship is o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
