What does bargain and sale mean?

bargain and sale meaning in Law Dictionary

In conveyancing. The transferring for the home of something in one to a different, upon valuable consideration, by way of sale. Shep. Touch, (by Preston,) 221. A contract or deal by the owner of land, in consideration of money or its equivalent paid, to sell land to a different person, called the "bargainee," whereupon a use occurs in favor of the second, to whom the seisin is moved by power regarding the statute of utilizes. 2 Washb. Real Prop. 128; Brittin v. Freeman, 17 N. J. Law, 231; Iowa v. McFarland, 110 U. S. 471, 4 Sup. Ct. 210, 28 L. Ed. 198; enjoy v. Miller, 53 Ind. 296, 21 Am. Rep. 192; Slifer v. Beates, 9 Serg. & R. (Pa.) 176. The expression "bargain and purchase" is also put on transfers of personalty, In cases where there clearly was initially an executory contract for sale, (the steal,) and then a genuine and finished sale. The correct and technical terms to denote a bargain and purchase tend to be "bargain and offer;" but some other words being adequate to improve a use upon a very important consideration tend to be sufficient. 2 Wood. Conv. 15; Jackson ex dem. Hudson v. Alexander, 3 Johns. 484, 3 Am. Dec. 517.

bargain and sale meaning in Business Dictionary

A contract that verifies property and transfers a title towards the buyer, but will not guarantee the credibility of the vendor's title. The terms "bargain and sale" are often meant to reference an executed agreement, as to when it had been bargained for, and then the sale is prepared.

Sentence Examples with the word bargain and sale

It made bargain and sale an easy means of secret or private conveyance, a policy to which the law was opposed.

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