Also known as:purchases · purchased · purchasing · purchaser · purchasers · buyer · vendee
Written by attorneys · grounded in primary & secondary sources — see below
The act of acquiring goods or property by payment of consideration.
Sources & Authorities· 39 primary sources
Select any source to read its text and confirm it supports the definition.
Cases
Statutes
How it applies
Common Examples
6
Bullets Purchase as Preparation
Perry Pratt drove to a store and bought ammunition for his handgun. He then drove toward the intended victim's home but never approached the victim or fired the weapon. Because the purchase remained mere preparation under the proximity test, no attempt liability attached.
Land Sale and Marketable Title
Phoebe Park contracted to buy a parcel from Phoenix Technologies. A recorded lien appeared in the chain of title that the seller could not remove before closing. Phoebe refused to close and sought rescission because the title was unmarketable.
Interstate Commerce Purchase
Pioneer Energy purchased fuel from an out-of-state supplier and arranged delivery across state lines. Congress exercised its power to regulate the transaction as part of commerce among the states.
Patricia Patel purchased land from a grantor whose deed traced back through a recorded chain. An easement recorded only in a stranger's chain did not appear in Patricia's chain, so she took without constructive notice of the easement.
Loan Purchase Under Fair Housing
Platinum Partners purchased residential mortgage loans originated by another lender. The purchases fell within the statute's coverage of financial assistance for dwelling acquisition.
Partnership Property Purchase
Peter Park and Prosperity Investments used partnership funds to buy equipment. The equipment is presumed to be partnership property even though title was taken in Peter's individual name.
Common questions
Frequently Asked
3
Does buying ammunition constitute an attempt under the common law proximity test?+
No. Purchasing bullets at a store is mere preparation and does not place the defendant's conduct in dangerous proximity to completing the target offense.
When may a buyer refuse to close a land contract because of title defects?+
A buyer may refuse when the title is unmarketable due to unreleased liens, breaks in the chain, or other defects that a reasonably prudent purchaser would not accept.
What notice does a purchaser receive under the chain of title doctrine?+
A purchaser receives constructive notice only of instruments appearing in the chain of title through which the purchaser claims. Instruments recorded outside that chain do not provide notice.
438 U.S. 104, 98 S.Ct. 2646, 57 L.Ed.2d 631 (1978)Property
…rights destroyed. It also ignores the fact that many States and cities in the Nation have chosen to preserve landmarks by purchasing or condemning restrictive easements over the facades of the landmarks and are apparently quite satisfied with the results. See, e. g. , Ore. Rev. Stat. §§ 271.710, 271.720 (1977); Md. Ann.…