bona fide

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Bona Fide

[Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding.

A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being defrauded or deceived by the seller. He or she has no notice of any defects of the title. A bona fide purchaser pays in Good Faith full value for the property and, without any Fraud, goes into possession.

bona fide

adj. Latin for "good faith," it signifies honesty, the "real thing" and, in the case of a party claiming title as "bona fide" purchaser or holder, it indicates innocence or lack of knowledge of any fact that would cast doubt on the right to hold title.

bona fide

adjective aboveboard, accurate, actual, as represented, candid, faithful, forthright, genuine, honest, honorable, in good faith, ingenuous, intended, just, meant, open, plain-speaking, principled, real, reliable, rightful, scrupulous, straightforward, trustworthy, unaffected, uncounterfeited, undisguised, undissembling, undistorted, unexaggerated, unfaked, unfeigned, unperfidious, unpretended, unpretentious, unreserved, unspecious, unspurious, veracious, veridical
Associated concepts: bona fide assignment, bona fide belief, bona fide business purpose, bona fide claimant, bona fidecontroversy, bona fide creditors, bona fide domicile, bona fide holder, bona fide holder for value, bona fide holder in due course, bona fide labor dispute, bona fide members, bona fide operation, bona fide purchaser in good faith, bona fide sale, bona fide seller
See also: accurate, actual, adherence, adhesion, corporeal, de facto, devotion, genuine, good faith, in good faith, loyalty, sterling, valid, veridical

BONA FIDE. In or with good faith.
     2. The law requires all persons in their transactions to act with good faith and a contract where the parties have not acted bona fide is void at the pleasure of the innocent party. 8 John. R. 446; 12 John. R. 320; 2 John. Ch. R. 35. If a contract be made with good faith, subsequent fraudulent acts will not vitiate it; although such acts may raise a presumption of antecedent fraud, and thus become a means of proving the want of good faith in making the contract. 2 Miles' Rep. 229; and see also, Rob. Fraud. Conv. 33, 34; Inst. 2, 6 Dig. 41, 3, 10 and 44; Id. 41, 1, 48; Code, 7, 31; 9 Co. 11; Wingate's Maxims, max. 37; Lane, 47; Plowd. 473; 9 Pick. R. 265; 12 Pick. R. 545; 8 Conn. R. 336; 10 Conn. R. 30; 3 Watts, R. 25; 5 Wend. R. 20, 566. In the civil law these actions are called (actiones) bonae fidei, in which the judge has a. more unrestrained power (liberior potestas) of estimating how much one person ought to give to or do, for another; whereas, those actions are said to be stricti juris, in which the power of the judge is confined to the agreement of the parties. Examples of the foraier are the actions empti-venditi, locati-conducti, negitiorum gestorum, &c.; of the latter, the actions ex mutus, ex chirographo, ex stipilatu, ex indebito, actions proescriptis verbis, &c.

References in periodicals archive ?
Bona Fide is an independent contract research organization (CRO) that provides DEXA QA/QC to the pharmaceutical industry for studies requiring bone densitometry as well as studies requiring body composition measurements.
I believe that through the strict use of these laws, SunnComm can be certain that only bona fide shareholders will receive the company's share exchanges and dividends when they occur.
The IRS issued a deficiency notice that proposed an increase in Duilio's gross estate because the sale was not a bona fide transaction or, alternatively, the transaction was a "bargain sale" that would increase the estate's adjusted taxable gifts.
To receive a free copy of the brochure, please write to: From the Bogus to the Bona Fide Brochure, P.
Senapathy's study shows] probably bona fide phenomena that I see much more as a consequence of how eukaryotic cells are put together, and how they function.
The company also announced that it is revising its corporate by-laws in order to best benefit bona fide shareholders by utilizing the required share exchange process under Nevada law as outlined in Nevada Revised Statutes 78.
If the employee received a bona fide offer from a third party that exceeded the RSC's offer, he or she could accept it and assign the contract to the RSC.
In the past the IRS has attacked the transfer of such property to a family limited partnership on the grounds that the entity lacked a valid or bona fide business purpose and, as a result, should have been disregarded for federal transfer tax purposes.
It's coming, but it hasn't gotten to the point where it's a true, bona fide rivalry.
His office expects to be swamped by the estimated 800 submissions due to arrive by year-end, he says, because many grantees --like the University of Pennsylvania--will lack bona fide AAALAC accreditation.
and Hollinger International, Lord Black, offered the chairman and counsel of the Special Committee, Gordon Paris and Richard Breeden, the right to match any bona fide offer for control of Hollinger Inc.
Transfers between family members are generally presumed to be gifts, unless the taxpayers prove that a bona fide debt exists; see Perry, 92 TC 470 (1990), aff'd, 912 F2d 1466 (5th Cir.