Chose In Action

A thing in action. A thing of which one has not the possession or actual enjoyment, but only a right to it, or a right to demand it by action at law.

2 Bl. Com. 396, 397.

Termes de la ley.

A personal right

not reduced to possession, but recoverable by suit at law.

2 Kent's Com. 351.

Thus, money due on a bond, note, or other contract, is a chose in action, for a property in the money vests whenever it becomes payable, but there is no possession till recovery by course of law, unless payment be first voluntarily made.

2 Bl. Com. 396, 397. 2 Steph. Com. 74. 2 Kent's Com. 351.

So a right to recover damages for breach of covenant, or for a tort, is a chose in action. Id. ibid. 1 Chitty's Gen. Pract. 99, and note. A chose in action is a thing rather in potentia than in esse, though the owner may have as absolute a property in, and be as well entitled to such things in action, as to things in possession.

2 Bl. Com. 397, 398.

It has been called with propriety, a chose in suspense.

Id. 397.

Bro. Abr. Chose in action.

Cowell.