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Part I The Nature of Intangible Property, 8 Leases

From: The Law of Assignment (3rd Edition)

Marcus Smith, Nico Leslie

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 25 January 2021

Property and title and choice of law — Contract and transfer of title

This chapter focuses on leases. Leases are most commonly associated with transactions involving land, and have been a feature of the law of real property since the Middle Ages. However, other forms of lease have become increasingly prominent in modern times. There are now major industries concerned with the leasing of chattels, such as vehicles or aircraft, and leases of intangible rights have become commonplace in the world of intellectual property. The key feature of such leases is that the lessee obtains the right to exclude others from using the relevant chattel or intellectual property. This is in contrast to a mere licence, by which the licensee obtains only the right to use the chattel or property himself. The chapter looks specifically at leases over land—its nature, historical origins, and whether they can be properly classified as choses in action.

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