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LSDefine

Simple English definitions for legal terms

bona fide purchaser for value

Read a random definition: reconsignment

A quick definition of bona fide purchaser for value:

A bona fide purchaser for value is someone who buys something for money or something else valuable without knowing that someone else has a claim to it or any problems with the seller's ownership. They are considered innocent and have the right to the property they bought. It can apply to buying anything, like a house or a car.

A more thorough explanation:

A bona fide purchaser for value is someone who buys property for money or other valuable consideration without knowing about any other claims to the property. They have paid for the property in good faith and without any knowledge of any defects or problems with the seller's title. This means that they have a superior right to the property compared to the seller's creditors, to the extent of the consideration they paid.

For example, if someone buys a car from a seller who has outstanding debts, but the buyer had no knowledge of these debts, they are considered a bona fide purchaser for value. They have a superior right to the car compared to the seller's creditors, to the extent of the money they paid for the car.

Another example is if someone buys a house from a seller who has a pending lawsuit over the property, but the buyer had no knowledge of the lawsuit. The buyer is still considered a bona fide purchaser for value and has a superior right to the property compared to the seller's creditors, to the extent of the money they paid for the house.

bona fide possession | bona fides

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RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
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