Asked by Haimanti Bhattacharyya on Jun 18, 2024
Verified
What is the term for a person who candidly paid valuable consideration without any notice of another's claim or any defects in the seller's ability to sell?
A) Good faith purchaser
B) Holder in due course
C) Bona fide buyer
D) Value buyer
Good Faith Purchaser
A person who buys property without knowledge of any existing claims or defects in title, thus protected under the law.
Valuable Consideration
Any benefit, right, or interest that has tangible or intangible worth, which is provided by one party to another as part of a contract.
- Comprehend the legal prerequisites for capacity to enter into a contract.
Verified Answer
CP
Chintan PatelJun 18, 2024
Final Answer :
A
Explanation :
A good faith purchaser is one who has in good faith paid valuable consideration without any notice of another's claim or any defects in the seller's ability to sell
Learning Objectives
- Comprehend the legal prerequisites for capacity to enter into a contract.