Alan purchased a piece of land from Zirka.He used a cheque to pay for the price.Which of the following statements is TRUE?

Question

Quizplus · Accepted Answer

A cheque represents funds in a bank account, which is a form of intangible property. The land that Alan purchased is a chose in possession, which is a tangible property. A chose in action refers to a right to something, such as a debt owed to the owner of the chose in action. A chattel refers to a movable property, such as a car or furniture. Therefore, the statement that correctly describes the situation is that the rights represented by the cheque are a type of intangible property.

Alan Purchased a Piece of Land from Zirka