In a simple example of a setting in which a chattel paper might be used, an equipment rental company could rent equipment to a business, and retain a lien on the equipment. In the event that the business failed to make their lease payments, the equipment rental company could take the equipment back. Likewise, when goods are sold on credit, a chattel paper can be written up to give the seller the right to seize the goods in the event that the debt obligation is not met.

Chattel slave is known as slave traditional slave. This is where slaves are treated as chattel.

A chattel is any tangible, movable property, or a slave.

People do not like to be treated like chattel.

A chattel slave is a person who is treated as property and bought and sold as if they were an object or commodity. Chattel slavery is a system where individuals are considered personal property with no rights or freedoms.