Chose In Action, that species of property which, in distinction from property in possession, consists in the right to reduce something of value to possession by means of some legal reined)'. Thus, the right to recover money due on a bond is a chose in action, of which the bond is the evidence; and the right to recover damages for the unlawful conversion of' one's property by another is also a chose in action. Formerly the law did not recognize a quality of assignability to such rights, but an exception was made of bills of exchange and promissory notes payable to order or bearer, and which in technical language were called negotiable; and the courts of equity went further, and protected the rights of assignees in all cases where the demand was for money due by contract express or implied, or for the conversion of property. And now the courts of law also recognize and protect the rights of assignees; but except in the case of negotiable paper, and such other cases as statutes may have provided for, the assignee, if he prosecutes, must do so in the name of the assignor.