In certain circumstances, the "chose in action" creates a separate proprietary right, independent from the property in which it may reference. This new property can be subject to charges or can be assigned. For example, a right to enforce and receive payment for a debt, obtain money by way of damages for breach of contract, or receive recompense for a wrong is a chose in action. Two consequences result from this, firstly, they are claims which cannot be executed by the chose-holder without the enforcement of legal proceedings. Second, these examples may be themselves assigned, novated, or otherwise used by the chose-holder. If the economic value of the asset is the right to sue. Historically, documents which represented a title to a "chose in action" of a particular kind, such as bonds or other documentary intangibles were themselves "chose in possession" because, similar to promissory notes they were negotiable and thus could be physically seised. That is to say, they were transferred solely by delivery of the document themselves. Today, most bonds and other financial instruments have been dematerialised and are issued as a single global note. The consequence of this is that most financial instruments are now "choses in action" held by the beneficial party against the broker holding assets in a securities depository such CREST, where investors own interlocking interests in trusts, rather than the actual issued note. The development of dematerialised securities brings some objects which are termed as "chose in action" today full circle, such as bonds or bill of lading which the court first developed as "choses in action", and which, without the use of a negotiable instrument no longer operate as "choses in possession". Currently, claims which are treated as being "locked up" inside the paper includes pledge, negotiables, and custodial bailment.