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BARGAIN AND SALE Definition & Legal Meaning

Definition & Citations:

In conveyancing. The transferring of the property of a thing from one to another, upon valuable consideration, by way of sale. Shep. Touch, (by Preston,) 221. A contract or bargain by the owner of land, in consideration of money or its equivalent paid, to sell land to another person, called the “bargainee,” whereupon a use arises in favor of the latter, to whom the seisin is transferred by force of the statute of uses. 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; Love v. Miller, 53 Ind. 296, 21 Am. Rep. 192; Slifer v. Beates, 9 Serg. & R. (Pa.) 176. The expression “bargain and sale” is also applied to transfers of personalty, In cases where there Is first an executory agreement for the sale, (the bargain,) and then an actual and completed sale. The proper and technical words to denote a bargain and sale are “bargain and sell;” but any other words that are sufficient to raise a use upon a valuable consideration are sufficient. 2 Wood. Conv. 15; Jackson ex dem. Hudson v. Alexander, 3 Johns. 484, 3 Am. Dec. 517.

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