Chattels personal distinction between tangible choses in possession and

Chattels personal distinction between tangible choses

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Chattels personal = distinction between tangible (choses in possession) and intangible (choses in action) Chattels Personal Chose in Possession v Chose in Action R v Hawcroft [2009] ACTSC 145 Accused was charged under the Crimes Act 1900 (ACT) s 89 with 230 counts of theft of sums of money after she misappropriated proceeds of a trust fund which she was trustee Her council argued that the property of beneficiaries she had stolen was a chose in action , not a sum of money, it was actually the debt the bank owed The court upheld that it was a chose in action and was acquitted Kingdom v Western Australia [2012] WASCA 74 Supreme Court overturned above decision in Australia Trustee bought herself a house, and court of appeal convicted her stating that it was money Property Personal Property Chattels real Chattels real personal Chattels personal tangible Choses in posession: tangible intangible Choses in action: intangible intangibles Pure intangibles intangibles Documentary intangibles
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Unicomb v Official Trustee in Bankruptcy 99 FCR 1 Before being discharged from bankruptcy (anything that comes into your hand goes to bank), building society demutualised Did this decision create any property in hands of bankrupt? Held: not sufficient to vest any enforceable chose of action against the applicant, only when shares were issued at a later date Pure Intangibles or Documentary Intangibles Documentary intangibles: title to goods, payment of money, negotiable securities Pure intangibles: debts, goodwill and intellectual property Personal Property can be held at law or in equity Fundamentals of Personal Property: Ownership and Possession Transfer of possession of personal property without a corresponding transfer of ownership may create a bailment, OR if purpose of transfer is to use property by way of security, creates a pledge Ownership without possession will allow a creditor to retake (repossess) an asset if the person who has possession becomes bankrupt Transfer of ownership without a transfer of possession gives the possessor rights over the goods which may end up with the owner losing their ownership Ownership Doctrine of tenures does not apply to goods Legal title to goods is indivisible but more than one legal title can exist (two people exactly at the same time, true owner (stronger) v possessor (measured)) o Gatward v Alley (1940) A good title consists in having legal rights against the whole world, possession is enforceable except against true owner Possession Good root of title against whole world except true owner Forms basis of some security interests such as pledges, liens and bailees Possession often is the element that decides who owns “found” property Given full protection of law Important element in making a gift Applies only in the case of physical property (that which is capable of possession). Purely intangible property cannot be physically possessed Possession/right to possession is a precondition for granting of some remedies (conversion) Possession in Fact v Possession in Law o
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