- Law An article of movable personal property.
- A slave.
Origin: Middle English chatel, movable property, from Old French, from Medieval Latin capitāle; see cattle.
Personal property such as automobiles, paintings, inventories, domestic animals, or real estate leases, but not real estate ownership.
Any tangible property that
is moveable or transferable. See also personal
property and real property
Any moveable property, tangible personal property, or an
intangible right in such property (such as a patent). Also called personal chattel.
Any interest in real property less than a freehold or a fee (such
as an easement). Also called real chattel.
A lien on assets other than real estate that secures a loan.
A writing or writings that evidence a monetary obligation as well
as a security interest in or a lease of specific goods. Generally used when a
consumer buys goods on credit by signing a promissory note that promises
payment in the future as well as grants the seller a security interest in the
goods. See also accommodation paper
and commercial paper