bona fide purchaser

One who buys something for value without notice of another’s claim to the property and without actual or constructive notice of any defects in or infirmities, claims, or equities against the seller’s title; one who has in good faith paid valuable consideration for property without notice of prior adverse claims.

• Generally, a bona fide purchaser for value is not affected by the transferor’s fraud against a third party and has a superior right to the transferred property as against the transferor’s creditor to the extent of the consideration that the purchaser has paid. — Abbr. BFP.

— Also termed bona fide purchaser for value; good-faith purchaser; purchaser in good faith; innocent purchaser; innocent purchaser for value. [Cases: Sales 234(1); Vendor and Purchaser 220. C.J.S. Sales §§ 232–233, 235; Vendor and Purchaser §§ 482–485, 517.]

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词条贡献者

双语律师Shifang，知名法学院法律专业，擅长翻译各类与企业改组和重组相关的法律文件。