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Innocent Purchaser |
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An individual who, in Good Faith and by an honest agreement, buys property in the absence of sufficient knowledge to charge him or her with notice of any defect in the transaction. An individual is an innocent or goodfaith purchaser when he or she buys something, paying valuable consideration, without actual or constructive notice of any legal infirmity in the sale. The purchaser of a gold bracelet for $500 from a jewelry store cannot be charged with notice that the bracelet was stolen. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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