Contracts; Refers to the negotiation, satisfaction and mutual agreement of a valid and binding contract, e.g. the party is entitled to the benefits of the bargain.
Law Dictionary – Alternative Legal Definition
A mutual undertaking, contract, or agreement. A contract or agreement between two parties, the one to sell goods or lands, and the other to buy them. Hunt v. Adams, 5 Mass. 360, 4 Am. Dec. 68; Sage v. Wilcox, 6 Conn. 91; Bank v. Archer, 16 Miss. 192. “If the word ‘agreement’ imports a mutual act of two parties, surely the word ‘bargain’ is not less significative of the consent of two. In a popular sense, the former word is frequently used as declaring the engagement of one only. A man may agree to pay money or to perform some other act, and the word is then used synonymously with ‘promise’ or ‘engage.’ But the word ‘bargain’ is seldom used, unless to express a mutual contract or undertaking.” Packard v. Richardson, 17 Mass. 131, 9 Am. Dec 123. Bargainee. The party to a bargain to whom the subject matter of the bargain or thing bargained for is to go; the grantee in a deed of bargain and sale. Bargainor. The party to a bargain who is to perform the contract by delivery of the subject matter. Catching bargain. A bargain by which money is loaned, at an extortionate or extravagant rate, to an heir or any one who has an estate in reversion er expectancy, to be repaid On the vesting of his interest; or a similar unconscionable bargain with such person for the purchase outright of his expectancy.