Intangible Property Most intangible property rights are so-called “choses in action”. A chose in action is a right asserted by legal action. The classic type of chose in action is a debt or an incontrovertible contractual obligation. It also includes a wide range of assets such as stocks, shares, insurance policies. The rights of a beneficiary under its trust is […]
Assignment of a Chose in Action Generally, a chose in action may be assigned, subject to exceptions. A legal assignment may be effected in accordance with the Supreme Court of Judicature (Ireland) Act, 1877. An equitable assignment is one which falls short of the requirements of a legal assignment, but to which effect is given by a court of equity. […]
Debts, Accounts and Policies Certain types of assets are effectively legal claims, which can only be enforced by Court Action. A debt, insurance policy or bank account can be mortgaged by being assigned to the mortgagee as security. In order to complete the security, notice should be given to the debtor or the party who has the obligation to pay, who […]