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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.

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 ?
Purchase frequency falls into fairly neat quarters: one-quarter purchased once in a month, another quarter purchased twice, the third quarter bought prepared food three to four times, and the final quarter made these purchases five times or more in a month.
In fact, for a transition to be successful, this is often the primary job description for the selling CPA, both before the actual purchase is closed and for a period of time afterward.
2005-74 is also silent on the characteristics of a home purchase program associated with the acquisition of a capital asset or ordinary income asset by the employer.
According to the FAR Part 13.003(c)(1)(2) definition, splitting breaks a procurement into "several purchases that are less than the applicable threshold merely to (1) permit use of simplified acquisition procedures or (2) to avoid any requirement that applies to purchases exceeding the micro-purchase threshold." The perceived splitting was, therefore, potentially a violation of the FAR.
This simply misstates the content of the letter, which in fact informed Respondents that they needed to provide additional information concerning, among other things, the source of funds for their purchases of shares.
Be certain to purchase the level of support necessary to protect your information, as well as its availability.
While many Latin Americans are attracted to real estate ownership in South Florida, those that reap the benefits of profitable purchases plan well and have some local knowledge.
If the entire purchase price could be allocated to goodwill (1), there would be no financial expense to reduce future earnings.
He suggests that farmers made purchases based on utilitarian needs rather than on the basis of emotion and desire, while urban consumers were seduced by the glittering displays and promotions of city shops.
Agencies claimed that high prices, individual preferences for certain types of paper, and availability effectively prevented them from being able to purchase recycled.