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 ?
Restless and dissatisfied every where, her sister could never obtain her opinion of any article of purchase, however it might equally concern them both: she received no pleasure from anything; was only impatient to be at home again, and could with difficulty govern her vexation at the tediousness of Mrs.
Tarzan explained that he had wished to purchase Akut and return him to his jungle home, and to this the mother assented.
Meanwhile the count had arrived at his house; it had taken him six minutes to perform the distance, but these six minutes were sufficient to induce twenty young men who knew the price of the equipage they had been unable to purchase themselves, to put their horses in a gallop in order to see the rich foreigner who could afford to give 20,000 francs apiece for his horses.
The Legislature incorporated towns, and made new purchases of lands from the Indians.
The free trappers, especially, were extravagant in their purchases.
You will further, I hope, be glad to bear, that some purchases of drapery made by pretty Penny, in preparation for her marriage with Mr.
Now, if a man has a right to do this on a farm of a hundred acres, what power must a landlord have who owns sixty thousand—ay, for the matter of that, including the late purchases, a hundred thousand?
My father accompanied me every day in a drive, and a gradually lengthening walk as my powers of walking increased; and one evening he had agreed to come and fetch me at twelve the next day, that we might go together to select a musical box, and other purchases rigorously demanded of a rich Englishman visiting Geneva.
Cap- tain Hagberd always described his purchases to her, carefully, as to a person having a legitimate interest in them.
This leading pedestrian was Car the Queen of Spades, who carried a wicker-basket containing her mother's groceries, her own draperies, and other purchases for the week.
We had no more purchases to make now; I had completed all his packing early in the afternoon; and our time was disengaged until night, when he was to go to Liverpool for Holyhead.
We threw all the purchases away together this morning.

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