What are the types of personal property

Question

What are the types of personal property?

Answer 1

Personal property can be divided into three main types:

1. Chattels or goods – tangible, moveable things such as cars and furniture.

2. Choses in action – intangible things (chose is the French word for thing) such as cheques, shares, and promissory notes.

3. Intellectual property – results of the creative process and the protection attached to those ideas through patents, copyrights, etc.