Chose in action

(Law) right of ownership in intangible items which are not in a person's possession but may be recovered through legal or court action (such as shares in a company, debts, insurance claims, salaries and pensions); document (as a check or stock certificate) incorporating such a right

Chose (French for "thing"), a term used in English law in different senses. Chose local is a thing annexed to a place, as a mill. A chose transitory is that which is movable, and can be carried from place to place. But the use of the word "chose" in these senses is practically obsolete, and it is now used only in the phrases chose in action and chose in possession.
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A property right in something intangible, or which are not in one's possession, but enforceable through legal or court action. - (read more on Chose in action)