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REDUCTION INTO POSSESSION

Categories: Property

Definition (1910 Edition)

The act of exercising the right conferred by a chose in action, so as to convert it into a chose in possession; thus, a debt ts reduced into possession by payment. Sweet.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.