Chose in action
Defined in 4 dictionaries — Case Law, Ballentine's (1916), Black's (1910), Burrill (1850)
Definitions from Case Law
From 321 U.S. 233 - Anderson Nat Bank v. Luckett · 1944Most cited · 786 citing opinions
A bank account is a chose in action of the depositor against the bank, which the latter is obligated to pay in accordance with the terms of the deposit.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
A New Law Dictionary and Glossary
Alexander M. Burrill · 1850
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.