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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 ?
When these shoppers were asked what type of promotions might lure them to make in-store purchases when stopping for gas, the top answer was coupons, cited by 43.5 percent, followed by frequent buyer/loyalty programs (25.7 percent); in-store displays (16 percent); banner/window signs (14.4 percent); pump toppers (13.3 percent); car wash promotions (13.3 percent); and in-store promotional signage (12.8 percent).
Internal succession requires that the firm employ qualified staff who are ready, willing and able to purchase and continue to operate the practice.
* Purchasing managers must accept responsibility for purchase orders being correct and complete.
Since the government failed to prove the debt was incurred to purchase the stock as required by the first test, it argued that the borrowed funds were directly traceable to the stock purchase as required by the second.
The tax consequences of home purchase programs vary, depending on the program's structure.
Commercial item or catalog pricing also facilitated ordering via electronic media, and more importantly, allowed ordering using the government purchase card and a warranted Ordering Officer within the group.
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.
"It used to be difficult for foreigners to finance their real estate purchases in Florida, but now it is much easier," said Jeff Gross, managing director of real estate lending & investments for BAC Florida Bank--the pre-eminent foreign national lender in South Florida.
The dichotomy is that the Coca-Cola secret formula or trademark need have no entry on the company balance sheet, but if Coca-Cola were to purchase Snapple, it would have to record an entry for the Snapple trademark and formulas.
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.
According to The American Prospect, government purchases of everything from cars and office equipment to food and energy amount to no less than 18 percent of the Gross Domestic Product.

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