ACTION. “Action” in the sense of a judicial proceeding includes recoupment, counter-claim, set-off, suit in equity, and any other proceedings in which rights are determined. UCC 1- 201(1). See setoff.
In Contracts. A transfer or making over to another of the whole of any property, real or personal, in possession or in action, or of any estate or right therein. Every demand connected with a right of property, real or personal, is assignable
A certificate of a Business Trust Organization' represents ownership of Capital Units and is issued by the trustee under authorization of the Indenture.
