Tangible property
From The Art and Popular Culture Encyclopedia
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| + | '''Tangible property''' in law is, literally, anything which can be touched, and includes both [[real property]] and [[personal property]] (or moveable property), and stands in distinction to [[intangible property]]. | ||
| - | '''Tangibility''' is the attribute of being easily detectable with the [[sense]]s. | + | In [[English law]] and some [[Commonwealth of Nations|Commonwealth]] legal systems, items of tangible property are referred to as ''choses in possession'' (or a ''chose in possession'' in the singular). However, some property, despite being physical in nature, is classified in many legal systems as intangible property rather than tangible property because the rights associated with the physical item are of far greater significance than the physical properties. Principally, these are documentary intangibles. For example, a [[promissory note]] is a piece of paper that can be touched, but the real significance is not the physical paper, but the legal rights which the paper confers, and hence the promissory note is defined by the legal debt rather than the physical attributes. |
| - | In [[criminal law]], one of the elements of an [[offence (law)|offense]] of [[larceny]] is that the stolen [[property]] must be tangible. | + | A unique category of property is [[money]], which in some legal systems is treated as tangible property and in others as intangible property. Whilst most countries legal tender is expressed in the form of intangible property ("The Treasury of Country X hereby promises to pay to the bearer on demand...."), in practice bank notes are now rarely ever redeemed in any country, which has led to bank notes and coins being classified as tangible property in most modern legal systems. |
| - | In the context of [[intellectual property]], expression in tangible form is one of the requirements for [[copyright]] protection. | ||
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| - | ==See also== | ||
| - | * [[Tangible property]] | ||
| - | * [[Tangible media]] | ||
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Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property.
In English law and some Commonwealth legal systems, items of tangible property are referred to as choses in possession (or a chose in possession in the singular). However, some property, despite being physical in nature, is classified in many legal systems as intangible property rather than tangible property because the rights associated with the physical item are of far greater significance than the physical properties. Principally, these are documentary intangibles. For example, a promissory note is a piece of paper that can be touched, but the real significance is not the physical paper, but the legal rights which the paper confers, and hence the promissory note is defined by the legal debt rather than the physical attributes.
A unique category of property is money, which in some legal systems is treated as tangible property and in others as intangible property. Whilst most countries legal tender is expressed in the form of intangible property ("The Treasury of Country X hereby promises to pay to the bearer on demand...."), in practice bank notes are now rarely ever redeemed in any country, which has led to bank notes and coins being classified as tangible property in most modern legal systems.
