Purchaser

3 definitions found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Purchaser \Pur"chas*er\, n.
     1. One who purchases; one who acquires property for a
        consideration, generally of money; a buyer; a vendee.
        [1913 Webster]
  
     2. (Law) One who acquires an estate in lands by his own act


        or agreement, or who takes or obtains an estate by any
        means other than by descent or inheritance.
        [1913 Webster]

From WordNet (r) 2.0 [wn]:

  purchaser
       n : a person who buys [syn: {buyer}, {emptor}, {vendee}]

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  PURCHASER, contracts. A buyer, a vendee. 
       2. It is a general rule that all persons, capable of entering into 
  contracts, may become purchasers both of real and personal property. 
       3. But to this rule there are several exceptions. 1. There is a class 
  of persons who are incapable of purchasing except sub modo; and, 2. Another 
  class, who, in consequence of their peculiar relation with regard to the 
  owners of the thing sold, are totally incapable of becoming purchasers, 
  while that relation exists. 
       4.-1. To the first class belong, 1st. Infants under the age of twenty-
  one years, who may purchase, and at their full age bind themselves by 
  agreeing to the bargain, or waive the purchase without alleging any cause 
  for so doing. If they do not agree to the purchase after their full age, 
  their heirs may waive it in the same manner as they themselves could have 
  done. Cro. Jac. 320; Rolle's Ab. 731 K; Co. Litt. 2 b; 6 Mass. R. 80; 6 
  John. R. 257. 
       5.-2d. Femes covert, who are capable of purchasing but their husbands 
  may disagree to the contract, and divest the whole estate; the husband may 
  further recover back the purchase-money. 1 Ld. Raym. 224; 1 Madd. Ch. R. 
  258; 6 Binn. R. 429. When the husband neither, agrees nor disagrees, the 
  purchase will be valid. After the husband's death, the wife may waive the 
  purchase without assigning any cause for it, although the husband may have 
  agreed to it; and if, after her husband's death, she do not agree to it, her 
  heirs may waive it. Co. Lift. 3 a; Dougl. R. 452. 
       6.-3d. Lunatics, or idiots, who are capable of purchasing. It seems 
  that although they recover their senses, they cannot of themselves waive the 
  purchase; yet if, after recovering their senses, they agree to it, their 
  heirs cannot set it aside. 2 Bl. Com. 291; and see 3 Day's R. 101. Their 
  heirs may avoid the purchase when they die during their lunacy or idiocy. 
  Co. Litt. 2 b. 
       7.-2. It is a general rule that trustees 2 Bro. C. C. 400; 3 Bro. C. C. 
  483; 1 John. Ch. R. 36; 3 Desaus. Ch. R. 26; 3 Binn. Y. 59; unless they are 
  nominally so, to preserve contingent remainders; 11 Ves, Jr. 226; agents; 8 
  Bro. P. C; 42; 13 Ves. Jr. 95; Story, Ag. Sec. 9; commissioners of 
  bankrupts; assignees of bankrupts; solicitors to the commission; 6 Ves. Jr. 
  630, n. b.; auctioneers and creditors who have been consulted as to the mode 
  of sale; 6 Ves. Jr. 617; 2 Johns. Ch. R. 257; or any other persons who, by 
  their connexion with the owner, or by being employed concerning his affairs, 
  have acquired a knowledge of his property, are generally incapable of 
  purchasing such property themselves. And so stern is the rule, that when a 
  person cannot purchase the estate himself, he cannot buy it, as agent for 
  another; 9 Ves. Jr. 248; nor perhaps employ a third person to bid for it on 
  behalf of a stranger; 10 Ves. Jr. 381 for no court is equal to the 
  examination and ascertainment of the truth in a majority of such cases. 8 
  Ves. Jr. 345. 
       8. The obligations of the purchaser resulting from the contract of 
  sale, are, 1. To pay the price agreed upon in the contract. 2. To take away 
  the thing purchased, unless otherwise agreed upon; and, 3. To indemnify the 
  seller for any expenses he may have incurred to preserve it for him. Vide 
  Sugd. on Vend. Index, h.t.; Ross on Vend. Index, h.t.; Long on Sales, Index, 
  h.t.;  2 Supp. to Ves. Jr. 449, 267, 478; Yelv. 45; 2 Ves. Jr. 100; 8 Coin. 
  Dig. 349; 3 Com. Dig. 108.