"Things in action" is a legal and financial term that references the intangible assets or property rights that a person or entity possesses which are not physical in nature but carry value or worth. It encompasses various types of contractual rights, claims, or interests that can be perceived or enforced in legal proceedings.
In legal terms, things in action generally refer to the rights or claims that can only be asserted through legal action - for example, a debt owed, a contractual agreement, a patent, or intellectual property. These intangible assets possess economic value and can be bought, sold, or transferred. However, they cannot be physically touched or seen, as they are not tangible items.
The concept of things in action is not just limited to legal proceedings; it also extends to financial or investment contexts. In finance, things in action can include securities, bonds, futures contracts, or stock options. These financial instruments are essentially legal claims entitling the holder to future payments or financial benefits.
Overall, "things in action" describes intangible assets with legal or financial implications. They represent a broad range of contractual rights, claims, or interests that possess value or economic worth, but cannot be visualized or touched physically. As such, they play a significant role in legal disputes, transactions, and financial markets.
