Chose in Action in UK Law
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R v Preddy
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On the contrary that chose in action is extinguished or reduced pro tanto, and a chose in action is brought into existence representing a debt in an equivalent sum owed by a different bank to the defendant or his solicitor. In these circumstances, it is difficult to see how the defendant thereby obtained property belonging to another, i.e. to the lending institution.
But (like Sir John Smith — see his commentary on the decision of the Court of Appeal in the present case [1995] Crim.L.R. 564) I find difficulty in conceiving that in either case section 15 applies where, as here, the solicitor receives the money in his capacity as agent of the lending institution, in circumstances in which the lending institution retains control over the money while in his (the solicitor's) hands and can require it to be repaid at any time.
I turn next to the release of the money by the solicitor, with the lending institution's authority, to the vendor's solicitor in the form of a banker's draft. Presumably the solicitor's bank will debit the solicitor's general account with the amount of the draft, and in due course the solicitor will effect an adjustment in his own accounts as between his client account and his general account.
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Kitchen v Royal Air Force Association
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In my judgment, the Court has to do (assuming that the Plaintiff has established negligence) In such a case as the present, is to determine what the Plaintiff has by that negligence lost. The question is, has the Plaintiff lost some right of value, some chose in action of reality and substance? in such a case it may be that its value is not easy to determine, but it is the duty of the Court to determine that value as best it can.
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Re United Railways of Havana and Regla Warehouses Ltd; Tomkinson v First Pennsylvania Banking and Trust Company
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The contractual right to receive payment of a debt is an item of property, that is to say, a chose in action. It can be transferred by the creditor to a third party but the validity of the transfer necessarily depends upon the lex situs because the Courts of the country where the debt is have jurisdiction over the title to it.
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Investors Compensation Scheme Ltd v West Bromwich Building Society
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My Lords, I agree that a chose in action is property, something capable of being turned into money. The existence of a remedy or remedies is an essential condition for the existence of the chose in action but that does not mean that the remedies are property in themselves, capable of assignment separately from the chose. If he does, he necessarily acquires whatever remedies are available to recover the money or the part which has been assigned to him.
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Steven John Williams (Acting as Liquidator of GP Aviation Group International Ltd) v Colin Neil Glover and Another
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As I have said already, the right to a remedy is an incident of the ownership of the chose. The remedy is not something that is capable of being sold or assigned separately from the right to which it relates.
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Trustee Act 1850
... ... of unsound Mind shall be solely entitled to any Stock or to any Chose in Action upon any Trust or by way of Mortgage, it shall be lawful for the ... ...
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Trustee Act 1893
... ... the commencement of this Act, except where an action or other ... proceeding was pending with reference thereto on the ... person to stock or to a chose in action— ... ) is an infant, or ... ) is out of the jurisdiction of ... ...
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Supreme Court of Judicature Act 1873
... ... the cause of action arises upon a lease or other ... contract made by him jointly with any ... only), of any debt or other legal chose in action, of ... which express notice in writing shall have been ... ...
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Inheritance (Provision for Family and Dependants) Act 1975
... ... for the purposes of this section there may be a joint tenancy of a chose in action ... ...
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‘Obtaining property by deception’, mortgage fraud and funds transfer
The appellants had made mortgage applications to building societies and other lenders which contained false statements. The sums obtained by the appellants by way of mortgage advances were actually...... ... THE ACTION The appellants had been charged with and convicted of obtaining or ... a chose in action, belonging to the lending institution. The question remains ... ...
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Investors Compensation Scheme Ltd v West Bromwich Building Society
These are set out in the earlier comment on this case when it arose at first instance and was considered in Vol. 5, No. 1, Journal of Financial Regulation and Compliance, p. 78. The investors conce...... ... ACTION The court at first instance and the Court of Appeal both agreed that the ... This was not, as the lower courts had sug-gested, splitting a chose in action and thereby dividing the indivisible. His Lord-ship said: 'Now ... ...
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Assignment of individual investors' claims to the Investors Compensation Scheme declared invalid (1) Investors Compensation Scheme Ltd v West Bromwich Building Society; (2) Same v Hopkin & Sons; (3) Alford & Ors v West Bromwich Building Society; (4) Armitage v West Bromwich Building Society
This case concerned the validity of assignments to the Investors Compensation Scheme (ICS) of the claims of various individual investors which arose out of the widespread mis‐selling of home income...... ... the claim-ants (including Messrs Alford and Armitage in this action), to take out home income plans involving equity release mortgages with ... the view that what the ICS claim form purported to assign was not a chose in action or part of a chose in action (which is capable of assignment in ... ...
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Theft Act 1968, S. 15A: Obtaining Money Transfer by Deception
... ... 4(1) denition of property, being a chosein action which belonged to an account holder and was exercisableagainst the ... be said tohave obtained, or to have attempted to obtain, property (a chose inaction) that belonged to another. Their Lordships answered this ... ...
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Liquidator Could Not Assign Right To Appeal Tax Assessments
... ... be a liability did not satisfy the traditional definition of a chose in action. The right to appeal was not a right that could be claimed by ... ...
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Freezing Orders - PSJC Commercial Bank V Kolomoisky
... ... all such assets." The WFO defined the term "assets" as including a chose in action (broadly, a right to sue another party), although it did not ... ...
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PSJC Commercial Bank Privatbank v Kolomoisky & Ors [2018] EWHC 482 (Ch)
... ... all such assets." The WFO defined the term "assets" as including a chose in action (broadly, a right to sue another party), although it did not ... ...
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Know Your Limits: The Accrual Of A Cause Of Action In Tort
... ... Critically, Gloster LJ refused to characterise Ms Berney's claim as one for "diminution of the value of her chose in action" (the chose in action being, essentially, Ms Berney's right to sue), stating that such an approach was "unreal" "on an objective analysis ... ...