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. 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.
Law Dictionary – Alternative Legal Definition
One who acquires real property in any other mode than by descent One who acquires either real or personal property by buying it for a price in money; a buyer; vendee. In the construction of registry acts, the term “purchaser” is usually taken in its technical legal sense. It means a complete purchaser, or, in other words, one clothed with the legal title. Steele v. Spencer, 1 Pet. 552, 550, 7 L. Ed. 259. Bona fide purchaser. See BONA FIDE. First purchaser. In the law of descent, this term signifies the ancestor who first acquired (iu any other manner than by inheritance) the estate which still remains in his family or descendants. Innocent purchaser. See INNOCENT. Purchaser of a note or bill. The person who buys a promissory note or bill of exchange from the holder without his indorsement. Purchaser without notice is not obliged to discover to his own hurt. See 4 Bouv. Inst note 4336.