Intangible movables may be divided into rights which are mere rights of action, and rights which are represented by some document or writing that is not only capable of delivery but in the modern commercial world is negotiated as a separate physical entity. A debt, arising from a loan or from an ordinary commercial contract, is an example of the first class; while the second class is chiefly exemplified by negotiable instruments and shares. It is proposed here to keep the two classes separate, and to deal first with debts, secondly with negotiable instruments, and...
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