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Assets in United Kingdom

Definition of Assets

In accordance with the work A Dictionary of Law, this is a description of Assets :

Physical property and/or rights that have a monetary value and are capable of being those of a *juristic person or a natural person (i.e. a human being). They can comprise real assets (real property) and personal assets (personal property). In respect of a juristic person, such as a corporation, assets include fixed or capital assets (those identified as being held and used on a continuing basis in the business activity, e.g. machinery) and current or circulating assets (those not intended to be used on a continuing basis in the business activity but realized in the course of trading).

In respect of a natural person who is deceased, assets comprise all real and personal property that forms part of the deceased’s estate and is available for the payment of the deceased’s debts and liabilities.

See also family assets; wasting assets.

The consequences of dissolution of Partnership:

Rights as to application of assets

Find under this subsection information about Rights as to application of assets in relation to The consequences of dissolution of Partnership:.

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This entry about Assets has been published under the terms of the Creative Commons Attribution 3.0 (CC BY 3.0) licence, which permits unrestricted use and reproduction, provided the author or authors of the Assets entry and the Encyclopedia of Law are in each case credited as the source of the Assets entry. Please note this CC BY licence applies to some textual content of Assets, and that some images and other textual or non-textual elements may be covered by special copyright arrangements. For guidance on citing Assets (giving attribution as required by the CC BY licence), please see below our recommendation of "Cite this Entry".

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Legal Citations Generator

(2016, 02). Assets lawi.org.uk Retrieved 01, 2021, from https://lawi.org.uk/assets/

02 2016. 01 2021 <https://lawi.org.uk/assets/>

"Assets" lawi.org.uk. lawi.org.uk, 02 2016. Web. 01 2021. <https://lawi.org.uk/assets/>

"Assets" lawi.org.uk. 02, 2016. Accesed 01 2021. https://lawi.org.uk/assets/

Agostino Von Hassell, 'Assets' (lawi.org.uk 2016) <https://lawi.org.uk/assets/> accesed 2021 January 27

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Schema Summary

  • Article Name: Assets
  • Author: Agostino Von Hassell
  • Description: Definition of Assets In accordance with the work A Dictionary of Law, this is a description of Assets : Physical property [...]

This entry was last updated: February 19, 2016


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