BUYER - A person or entity who purchases a thing or property in exchange for other property (often money).
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BUYER, contracts. A purchaser; (q. v.) a vendee.
BUYING OF TITLES. The purchase of the rights of a person to a piece of land when the seller is disseised.
Buyer in ordinary course of business
Definition
: a bona fide purchaser who in a normal or regular business procedure buys goods from a seller in the business of selling goods of that kind ...
Buyer, especially in a Contract for the Sale of Real Estate.
Real Estate Dictionary:
Vendee
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A buyer and a seller enter into an agreement where the buyer agrees to pay $2500 for the seller's Rolex wrist watch.
The buyer may ask for a certificate, the certificate constituting proof of share ownership.
Persons owning shares in a corporation are called shareholders.
There are two basic kinds of shares: common and preferred.
if the owner sells the easement continues after the buyer takes possession. For this reason, buyers should always check the public records to know if an easement runs with the title.
Caveat emptor (let the buyer beware) is a warning to buyers to check for themselves things which they intend to buy, so they cannot later hold the vendor responsible for the faulty condition of the item.
TOP NCND Agreement : An international trade instrument; "non circumvention/non disclosure agreement" used in the preliminary stages of a business transaction where the Seller and Buyer do not know each other, ...
NCND Agreement An international trade instrument; "non circumvention/non disclosure agreement" used in the preliminary stages of a business transaction where the Seller and Buyer do not know each other, ...
The price is payable by instalments and the buyer will not become owner of the goods until certain conditions are satisfied (e.g. payment of the last instalment).
Consideration
The ‘price' in a contract for the other party's promise.
Security Agreement - An agreement whereby assets of a buyer, or borrower, are pledged as security for a loan or extension of credit.
The use of a trademark indicates that the maker or dealer believes that the quality of the goods will enhance his or her standing or goodwill, and a known trademark indicates to a buyer the reputation that is staked on the goods.
Strict Liability: In the past, "buyers beware" was the prevailing legal notion. Current law, however, imposes strict liability on corporations or individuals who make defective products.
or deed of trust, an existing promissory note secured by the real property, escrow "instructions" from both parties, an accounting of the funds and other documents necessary to complete the transaction by a date ("closing") agreed to by the buyer and ...
Law Terms unconscionability is A sellers taking advantage of a buyer due to their unequal bargaining positions, perhaps because of the buyers recent trauma, physical infirmity, ignorance, inability to read or inability to understand the language.
A seller's taking advantage of a buyer due to their unequal bargaining positions, perhaps because of the buyer's recent trauma, physical infirmity, ignorance, inability to read or inability to understand the language.
When a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders generally require credit review of the new borrower and may charge a fee for the assumption.
a contract between a supplier (or manufacturer) and a buyer, in which the supplier agrees to sell all the particular products that the buyer needs, and the buyer agrees to purchase the goods exclusively from the supplier.
Caveat emptor means let the buyer beware or that the buyers should examine and check for themselves things that they intend to purchase and that they cannot later hold the vendor responsible for the broken condition of the thing bought.
CAVEAT EMPTOR: Latin for "buyer beware." This rule generally applies to all sales between individuals. It gives the buyer full responsibility for determining the quality of the goods in question.
Let the buyer beware.
CCAA - Companies' Creditors Arrangement Act:
An Act under which proposals or arrangements or compromising of debt is structured. For a company to be eligible to file under the CCAA, it must have at least $5 million in debt.
CAVEAT EMPTOR Let the buyer beware; the principle that the seller of a product cannot be held responsible for its quality unless it is guaranteed in a warranty.
CHANCERY A court of equity.
Express Warranty - An affirmation of fact or promise made by the seller to the buyer that is relied upon by the buyer in agreeing to the contract.
Expungement - Official and formal erasure of a record or partial contents of a record.
Product liability - Legal responsibility of manufacturers and sellers to buyers, users, and bystanders for damages or injuries suffered because of defects in goods.
Promisee - An individual to whom a promise is made.
caveat emptor - "Let the buyer beware" encourages a purchaser to examine, judge and test for himself.
SALE NOTE.
A memorandum given by a broker to a seller or buyer of goods, stating the fact that certain goods have been sold by him on... more ...
Purchase Agreement Or Purchase Offer: Also, sales agreement and earnest money contract. Agreement between buyer and seller of property which sets forth in general the price and terms of a proposed sale.
Bait and Switch: A dishonest sales practice in which a business advertises a bargain price for an item in order to draw customers into the store and then tells the prospective buyer that the advertised item is of poor quality or no longer ...
CLOSING: In a real estate transaction, this is the final exchange in which the deed is delivered to the buyer, the title is transferred, and the agreed-on costs are paid.
Fair market value - The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.
In the event of such a transfer, the employment rights (except pensions) of those employed by the seller immediately prior to the transfer are preserved and become the responsibility of the buyer.
The more common of the two, a bilateral contract, is an agreement in which each of the parties to the contract makes a promise or promises to the other party. For example, in a contract for the sale of a home, the buyer promises to pay the seller ...
to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance. A lease option is often a good arrangement for a potential home buyer ...
Risk of Loss
A provision in a contract identifying the party who bears the risk of damage or destruction of property during its transfer from seller to buyer.
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Term: Risk of Loss
Definition: A provision in a contract identifying the party who bears the risk of damage or destruction of property during its transfer from seller to buyer.
Had they not done so, it appeared, the acceptances would have found no buyers on many occasions and the practice of making them and financing trade by that means would have been discontinued.
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