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  2. PURCHASE Definition & Legal Meaning Definition & Citations: The word “purchase” is used in law in contradistinction to “descent,” and means any other mode of acquiring real property than by the common course of in- heritance.
    thelawdictionary.org/purchase/
    1 : to acquire (real property) by means other than descent or inheritance 2 : to obtain by paying money or giving other valuable consideration ;specif : to take (property) by a voluntary transaction (as a sale, mortgage, pledge, lien, or gift) that creates an interest and that is governed by the Uniform Commercial Code see also bona fide purchaser
    dictionary.findlaw.com/definition/purchase.html
     
  3. People also ask
    What is the meaning of 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.
    legal-dictionary.thefreedictionary.com
    What does buy mean in law?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.
    What does a purchase & sale mean?Second, in the definitions of “purchase” and “sale,” the words “an agreed” were inserted before “exchange for something of value” to clarify that the transaction must be intentional. Such transactions include indirect exchanges of something of value.
    What is the difference between a purchase order and purchase agreement?Purchase orders and purchase agreements are both legal documents used in the purchase of goods. A purchase agreement is also used in real estate transactions. The document used to purchase services is more often called a contract or service agreement.
     
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