term:

Chose

chose n

[Anglo-French, literally, thing, from Old French, from Latin causa legal case, reason, cause]
: a piece of personal property

chose in action
: a right to something (as payment of a debt or damages for injury) that can be recovered in a lawsuit
;also
: a document (as a check or stock certificate) embodying such a right

chose in possession
: something that is in one's actual possession or can be possessed

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.