Assets in United States

Assets Definition

(Fr. assez, enough). All the Stock in trade, cash, and all available property belonging to a merchant or company. Equivalent to property. 2 Sandf. (N. Y.) 202. The property in the hands of an heir, executor, administrator, or trustee, which is legally or equitably chargeable with the obligations which such heir, executor, administrator, or other trustee is, as such, required to discharge. Equitable Assets. Such as can be reached only by the aid of a court of equity, and which are to be divided, pari passu, among all the creditors. 2 Fonbl. Eq. 401 et seq.; Willis, Trustees, 118. Legal Assets. Such as constitute the fund for the payment of debts according to their legal priority. Assets per Descent. That portion of the ancestor’s estate which descends to the heir, and which is suflScient to charge him, as far as it goes, with the specialty debts of his ancestors. 2 Williams, Ex’rs, 1011. Personal Assets. Goods and personal chattels to which the executor or administrator is entitled. Real Assets. Such as descend to the heir, as, an estate in fee simple.

Assets in Foreign Legal Encyclopedias

Link	Description
Assets	Assets in the World Legal Encyclopedia.
Assets	Assets in the European Legal Encyclopedia.
Assets	Assets in the Asian Legal Encyclopedia.
Assets	Assets in the UK Legal Encyclopedia.
Assets	Assets in the Australian Legal Encyclopedia.

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Browse the American Encyclopedia of Law for Assets

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Link	Description
Assets	Assets in the Family Law Portal of the American Encyclopedia of Law.
Assets	Assets in the IP Portal of the American Encyclopedia of Law.
Assets	Assets in the Commercial Law Portal of the American Encyclopedia of Law.
Assets	Assets in the Criminal Law Portal of the American Encyclopedia of Law.
Assets	Assets in the Antritrust Portal of the American Encyclopedia of Law.
Assets	Assets in the Bankruptcy Law Portal of the American Encyclopedia of Law.
Assets	Assets in the Constitutional Law Portal of the American Encyclopedia of Law.
Assets	Assets in the Tax Law Portal of the American Encyclopedia of Law.
Assets	Assets in the and Finance and Banking Portal of the American Encyclopedia of Law.
Assets	Assets in the Employment and Labor Portal of the American Encyclopedia of Law.
Assets	Assets in the Personal Injury and Tort Portal of the American Encyclopedia of Law.
Assets	Assets in the Environmental Law Portal of the American Encyclopedia of Law.

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Resource	Description
Assets in the Dictionaries	Assets in our legal dictionaries
http://lawi.us/assets	The URI of Assets (more about URIs)
Assets related entries	Find related entries of Assets

Legal Issue for Attorneys

(Fr. assez, enough). All the Stock in trade, cash, and all available property belonging to a merchant or company. Equivalent to property. 2 Sandf. (N. Y.) 202. The property in the hands of an heir, executor, administrator, or trustee, which is legally or equitably chargeable with the obligations which such heir, executor, administrator, or other trustee is, as such, required to discharge. Equitable Assets. Such as can be reached only by the aid of a court of equity, and which are to be divided, pari passu, among all the creditors. 2 Fonbl. Eq. 401 et seq.; Willis, Trustees, 118. Legal Assets. Such as constitute the fund for the payment of debts according to their legal priority. Assets per Descent. That portion of the ancestor’s estate which descends to the heir, and which is suflScient to charge him, as far as it goes, with the specialty debts of his ancestors. 2 Williams, Ex’rs, 1011. Personal Assets. Goods and personal chattels to which the executor or administrator is entitled. Real Assets. Such as descend to the heir, as, an estate in fee simple.

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Notice

This definition of Assets Is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Practical Information

Note: Some of this information was last updated in 1982

Anything of value that could be appropriated for the payment of debts; all money, property, and money related rights owned by a person or organization.

(Revised by Ann De Vries)

What is Assets?

For a meaning of it, read Assets in the Legal Dictionary here. Browse and search more U.S. and international free legal definitions and legal terms related to Assets.

Assets meaning

The French concept of patrimoine is our point of departure as it is most logical. All persons have a patrimoine which consists of créances (credits) and avoirs (debits); there are of course non pecuniary elements of patrimoine: yet patrimony (the nearest English term, which must be distinguished from marriage, i.e. matrimony). The créances (credits) and avoirs (debts) must be balanced to determine the “net worth” of the person, in material terms. This notion of “net worth” or “capital” (whether personal or real) corresponds to the German concept of Vermögen, which can be translated as fortune.

Assets