SUMMARY
The legal position may be simply stated. All legal property, however defined, is constituted by rights of some form. Whether we classify a right as being a ‘thing in action’ or a ‘thing in possession’ is of vanishingly little importance. ‘Things in possession’ refers to (transferable) rights in relation to physical things. ‘Things in action’ refer to (transferable) rights that are not in relation to physical things. There is no logical space for a third category …
Stevens, Robert, Property (Digital Assets) Bill Response (November 22, 2024).
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