purchase


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Purchase

To buy; the transfer of property from one person to another by an agreement. Under the Uniform Commercial Code (UCC), taking by sale, discount, negotiation, mortgage, pledge, lien, issue, reissue, gift, or any voluntary transaction.

purchase

verb acquire, acquire ownership of, assume ownership, buy, buy up, collect, gain, invest in, make payment for, obtain, order, pay for, pick up, procure, prooure title to, redeem, secure, secure for a consideration
Associated concepts: words of purchase
See also: acquire, buy, commerce, deal, leverage, procure, secure, takeover, trade, transaction

PURCHASE. In its most enlarged and technical sense, purchase signifies the lawful acquisition of real estate by any means whatever, except descent. It is thus defined by Littleton, section 12. "Purchase is called the possession of lands or tenements that a man hath by his own deed or agreement, unto which possession he cometh, not by title of descent from any of his ancestors or cousins, but by his own deed."
     2. It follows, therefore, that not only when a man acquires an estate by buying it for a good or valuable consideration, but also when it is given or devised to him be acquires it by purchase. 2 Bl. Com. 241.
     3. There are six ways of acquiring a title by purchase, namely, 1. By, deed. 2. By devise. 3. By execution. 4. By prescription. 5. By possession, or occupancy. 6. By escheat. In its more limited sense, purchase is applied only to such acquisitions of lands as are obtained by way of bargain and sale for money, or some other valuable consideration. Id. Cruise, Dig. tit. 30, s. 1, to 4; 1 Dall. R. 20. In common parlance, purchase signifies the buying of real estate and of goods and chattels.

References in classic literature ?
It was now some time since Miss Taylor had begun to influence his schemes; but as it was not the tyrannic influence of youth on youth, it had not shaken his determination of never settling till he could purchase Randalls, and the sale of Randalls was long looked forward to; but he had gone steadily on, with these objects in view, till they were accomplished.
He seemed anxious to purchase Ajax, and at last he told the man frankly that he was prompted not only by a desire upon his part to return the beast to the liberty of his native jungle; but also because his wife feared that in some way her son might learn the whereabouts of the ape and through his attachment for the beast become imbued with the roving instinct which, as Tarzan explained to Paulvitch, had so influenced his own life.
You are the notary empowered to sell the country house that I wish to purchase, monsieur?
I had the happiness of hearing of her gradual recovery, however, before we commenced our journey, though no more was said of the purchase.
You are not changeable in your tastes; when you make a purchase it is of the very best; and what you purchase you do not part with.
While visits of ceremony and grand diplomatic conferences were going on between the partners and the king, the captain, in his plain, matter-of-fact way, was pushing what he considered a far more important negotiation; the purchase of a supply of hogs.
Racal" swore Ben-Levi, "Racal do they mean to defraud us of the purchase money?
This will, in good part, raise the price of land, because land purchased at sixteen years' purchase will yield six in the hundred, and somewhat more; whereas this rate of interest, yields but five.
That any bookseller should think it worth-while to purchase what he did not think it worth-while to publish seems extraordinary.
Knowing that Natasha asked nothing for herself, and gave him commissions for others only when he himself had offered to undertake them, he now found an unexpected and childlike pleasure in this purchase of presents for everyone in the house, and never forgot anything.
He was enabled to purchase the materials through a lucky sale of a number of his hair bridles.
A MAN wished to purchase an Ass, and agreed with its owner that he should try out the animal before he bought him.