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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Then, by the 1770s, a small number took the next step and began to petition for total whiteness, which became an official option when the whitening gracias al sacar was added to the price list of purchasable favours in 1795.
The cheapest pair of children's boots on the market today are not less than 8s 6d, and even at this price they are declared to be very inferior to those normally purchasable for 4s to 4s 6d a pair.
OMy plan is to turn this student project into a purchasable item that will soon be available on the market.
You'll have the choice." The model appears to be similar to that of FIFA's Ultimate Team, which lets users buy new packs of players using in-game coins or purchasable FIFA Points.
For example, Groupon suggests provisional offers such as coupon redemption, limited purchasable time and quantity of items, and discounted prices during a limited period [26].
In fact there was a public health leader a hundred years ago--Herman Biggs--who said that public health is purchasable. Within natural limitations a community can determine its own death rate.
aACAo Purchasable items - Parcel boxes, envelopes and aerogrammes can be bought.
Republicans proposed that insurance be purchasable across state lines.
Jacksonville Bancorp said that the number of shares of the company's common stock purchasable upon exercise of the subscription rights will be calculated based on the total number of outstanding shares of the company's common stock held by the eligible shareholders on August 20, 2013.
The survey data demonstrates that consumers expect airlines to share fees in a transparent and purchasable format in all the channels where they sell their fares, and if the airlines will not do this on their own, then the Department of Transportation should exercise its authority to require it." While online travel sites are required to disclose a list of baggage fees charged by airlines, the airlines are not required to fully disclose various charges such as checked baggage or preferred seat assignment fees in a way that allows consumers to shop and compare the all-in price (fares+taxes+fees) or to actually purchase those ancillary products or services, such as seat assignments for a family that wishes to sit together.