A thing in action arising out of the violation of a right of property or out of an obligation may be transferred by the owner. Upon the death of the owner, it passes to the owner’s personal representatives except when in the cases provided by law it passes to the owner’s devisees or successor in office.

Terms Used In North Dakota Code 47-07-03

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: includes property, real and personal. See North Dakota Code 1-01-49