Both a chattel and a chose in action can be used to secure a debt.

Name: Both a chattel and a chose in action can be used to secure a debt.
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Question

Quizplus · Accepted Answer

A chattel (a tangible personal property) and a chose in action (a right to personal property not in possession but recoverable by legal action) can both be used as collateral to secure a debt, through mechanisms such as chattel mortgages or pledges for chattels, and assignments or liens for choses in action.

Both a Chattel and a Chose in Action Can Be