Law of Trusts

[shikamaru]

Bail.

Think about it with banks ....

You as depositor (bailor) give your property to the bank (bailee) for safe storage and keeping.

The only difference in this relationship between a traditional bailment relationship is that the legal title of the notes transfers to the bank leaving you with an equitable right to retrieve FRNs from your account with the bank.

An account is a chose in action. A chose in action is the right to sue for recovery of a debt. Chose is French meaning "thing". An action is a legal suit.