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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.


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 periodicals archive ?
The employee retained legal title to the residence until it was sold to a third party; at that point, the name of the third-party purchaser was entered on the deed as grantee.
Investors are not directly involved in the process; terms of the offering are negotiated between the company and the initial purchasers.
Most sponsor purchase agreements provide that the purchaser must close within 30 days after delivery of a written notice of the closing.
Historically, the asset purchase agreement did control what liabilities a purchaser would assume.
Any gain on the sale of shares that are excluded property to a "specified purchaser" will be suspended until such time as the shares are disposed of by the specified purchaser or the purchaser ceases to meet the definition of specified purchaser.
Many purchasers have learned about the importance of regulatory approvals the hard way, after failing to follow procedures that are required by law.
Purchasers often insist that they have a right to match any other offer made at the auction sale and that any other offeror is required to bid at a higher increment than the contracting purchaser's bid.
In either case, the purchaser may not be controlled by any officers, shareholders, or employees of the seller and the sale must be at arm's length.
Thus, in interstate firearms trafficking cases, traffickers usually cannot purchase the firearm legally because they live in another state and cannot provide identification needed to establish residency and to complete the necessary ATF forms that document handgun purchases and information regarding the purchaser.
To offer the perspective of the person on "the other side of the casting," while learning a thing or two about their expectations of foundries, three purchasers at firms that are prominent users of castings were interviewed: Jack Porter, Caterpillar, Inc.
These purchasers come from various business sectors across the U.
Provision by physicians of information to purchasers of health care services.

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