Simple English definitions for legal terms
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New Acquisition: When someone gets something that they didn't have before, it's called an acquisition. A new acquisition is something that they got on their own, without it being given to them by their family or inherited from someone else. For example, if someone buys a new house with their own money, that's a new acquisition.
Definition: New acquisition refers to something that is obtained or gained by an individual or organization, which did not come from their family or previous ownership.
Examples:
These examples illustrate the definition of new acquisition as they both involve obtaining something that was not previously owned or inherited. In the case of an individual buying a new house, it means that they have acquired a property that was not passed down to them from their family. Similarly, in the case of a company purchasing a new business, it means that they have acquired a company that was not previously owned by them.