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bona fide purchaser |
Also found in: Acronyms, Wikipedia | 0.04 sec. |
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bona fide purchaser n. commonly called BFP in legal and banking circles; one who has purchased an asset (including a promissory note, bond or other negotiable instrument) for stated value, innocent of any fact which would cast doubt on the right of the seller to have sold it in good faith. This is vital if the true owner shows up to claim title, since the BFP will be able to keep the asset, and the real owner will have to look to the fraudulent seller for recompense. (See: BFP, holder in due course) |
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There is just no bona fide purchaser who is going to buy a house for the same price with a dump expansion as they would without it," he said. Shareholders accepting this offer must be bona fide purchasers of the stock. It appeared that EDEA's argument was that EDEA was a bona fide purchaser for value, who took the premises free of the unrecorded lease. |
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bona fide purchaser
