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 ?
Somehow or other, his reception as a guest seemed a thing that required justifying, like the purchasing of his pastry.
It appears, from the accounts of subsequent voyagers, that Tamaahmaah afterwards succeeded in his wish of purchasing a large ship.
Mary felt kindly disposed towards the shopkeepers, and hoped that they would trick the midday public into purchasing, for at this hour of the morning she ranged herself entirely on the side of the shopkeepers and bank clerks, and regarded all who slept late and had money to spend as her enemy and natural prey.
Bulstrode met all the expenses, and had ceased to be sorry that he was purchasing the right to carry out his notions of improvement without hindrance from prejudiced coadjutors; but he had had to spend large sums, and the building had lingered.
It was then that Anderssen took to the river, purchasing a canoe from a chief whose village lay a short distance from the Ugambi upon the bank of a tributary.
At the same time that his agents were purchasing corner lots and entire blocks in the heart of the business section and the waste lands for factory sites, Day was rushing franchises through the city council, capturing the two exhausted water companies and the eight or nine independent street railways, and getting his grip on the Oakland Creek and the bay tide-lands for his dock system.
Wakem entered his office that morning, he had had no intention of purchasing Dorlcote Mill, his mind was already made up.
But there were good reasons for purchasing Dorlcote Mill, quite apart from any benevolent vengeance on the miller.
Eighty percent of the firms facing succession issues in the next five years have failed to create a plan, even if they have partners in place who are capable of purchasing the retiring partner's interest and continuing to operate the firm, according to a recent AICPA survey.
Tehseen Ali, President and CEO of Verian Technologies, offers the following tips for improving the linkage between purchasing and accounts payables (AP) departments:
Everywhere Mirinda Jackson turns she sees minority small business owners who don't realize the value of accepting purchasing cards from their customers, mainly the federal government and large corporations.
On a tot of campuses, purchasing is the whipping boy," says Victoria Windley, director of Procurement Services at University of Delaware.