Connection lost
Server error
If we desire respect for the law, we must first make the law respectable.
✨ Enjoy an ad-free experience with LSD+
Legal Definitions - acquire
Definition of acquire
Acquire
In legal terms, to acquire means to gain possession, ownership, or control over something. This can occur through various legal methods, such as purchasing an item, inheriting property, or taking possession of an asset.
Example 1: Real Estate Purchase
A couple signs a contract and completes the necessary paperwork to purchase a new house. Once the transaction is finalized, they acquire ownership of the property, meaning they now legally possess and control the home and its land.
Example 2: Corporate Takeover
A large technology company makes an offer to buy a smaller software development firm. After negotiations and regulatory approvals, the larger company successfully purchases all shares of the smaller firm. Through this process, the technology company acquires the software firm, gaining control over its assets, employees, and intellectual property.
Example 3: Inheritance of Assets
Following the passing of a relative, an individual is named in a will as the beneficiary of a valuable collection of antique furniture. After the probate process is complete, the individual legally acquires the furniture, becoming its rightful owner and gaining possession of the items.
Simple Definition
In legal terms, "acquire" means to gain possession or control over something. It refers to the act of getting or obtaining an asset, right, or property.
