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5 Intangibles as Property

From: Principles of International Financial Law (3rd Edition)

Colin Bamford

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 08 August 2022

Subject(s):
Assignment of credit — Hybrid securities

The chapter examines the legal nature of intangible property and the distinction between choses in action and choses in possession. It discusses the characteristics of choses in action, particularly the quality of assignability. It then looks at the ways in which intangibles can be dealt with and transferred, legal and equitable assignment, sub-participation, novation, the mechanism of attaching the intangible to a physical item, and transfer by means of a declaration of trust. Finally it discusses the idea adopted by the Uniform Commercial Code of the United States, of creating ‘hybrid rights’.

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