Buyer in Ordinary Course definition: Copy, customize, and use instantly
Introduction
The term "Buyer in Ordinary Course" refers to a purchaser who buys goods in good faith, without knowledge that the sale violates the rights of a third party, and in the ordinary course of the seller's business. It is essential for distinguishing protected buyers under commercial law and clarifying rights in transactions.
Below are examples of how "Buyer in Ordinary Course" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Buyer in Ordinary Course" for commercial transactions
This definition applies to standard commercial transactions involving goods, where the buyer is acting in the usual course of business.
"Buyer in Ordinary Course" means a person who, in good faith and without knowledge of any third-party rights, purchases goods in the ordinary course of a seller's business, as part of regular trade practices.
Definition of "Buyer in Ordinary Course" for secured transactions
This definition ties "Buyer in Ordinary Course" to secured transactions, where the buyer is shielded from third-party claims of security interest.
"Buyer in Ordinary Course" refers to a person who purchases goods from a seller engaged in the sale of goods of that kind, in good faith, and without knowledge that the purchase violates the security interest of any third party, as defined under [relevant legal statute].
Definition of "Buyer in Ordinary Course" for retail sales
This definition applies "Buyer in Ordinary Course" to buyers in the context of retail or consumer purchases, focusing on personal or household transactions.
"Buyer in Ordinary Course" means an individual or entity that purchases goods in good faith from a retail seller, for personal or household use, and without awareness of any conflicting claims on the goods.
Definition of "Buyer in Ordinary Course" for bankruptcy proceedings
This definition aligns "Buyer in Ordinary Course" with bankruptcy contexts, where buyers are protected even if the seller is in bankruptcy.
"Buyer in Ordinary Course" refers to a purchaser who acquires goods from a seller conducting regular business operations, acting in good faith and without knowledge that the sale is part of a bankruptcy proceeding or violates the rights of creditors.
Definition of "Buyer in Ordinary Course" for agricultural goods
This definition focuses on buyers in agricultural industries, where goods are purchased directly from producers.
"Buyer in Ordinary Course" refers to a person who purchases farm products or agricultural goods directly from a farmer or producer in the regular course of the producer's business, acting in good faith without awareness of competing claims.
Definition of "Buyer in Ordinary Course" under international trade agreements
This definition connects "Buyer in Ordinary Course" to international trade transactions, ensuring protection across borders.
"Buyer in Ordinary Course" means an individual or entity who purchases goods in good faith under standard international trade practices, without knowledge that the purchase conflicts with the rights of any third party.
Definition of "Buyer in Ordinary Course" for used goods transactions
This definition applies to buyers in secondary markets or used goods purchases, where the buyer acts in good faith.
"Buyer in Ordinary Course" refers to a person who, in good faith, purchases used goods in the ordinary course of the seller's business, without knowledge of competing claims or prior ownership disputes.
Definition of "Buyer in Ordinary Course" for automotive sales
This definition applies to buyers in vehicle sales, ensuring that the buyer is protected in regular car dealership transactions.
"Buyer in Ordinary Course" means a person who purchases a motor vehicle in good faith from a dealer in the regular course of their business, unaware of any claims by third parties.
Definition of "Buyer in Ordinary Course" in auctions
This definition focuses on buyers in auction settings, ensuring that they are acting in good faith during a licensed sale.
"Buyer in Ordinary Course" refers to a person who purchases goods in good faith at an auction conducted by a licensed auctioneer, without knowledge of any conflicting claims.
Definition of "Buyer in Ordinary Course" for digital assets
This definition applies to transactions involving digital goods or assets, ensuring protection for digital asset buyers.
"Buyer in Ordinary Course" means a purchaser of digital assets, such as cryptocurrencies or NFTs, acting in good faith and in the ordinary course of the seller’s business, without knowledge of conflicting ownership claims.
Definition of "Buyer in Ordinary Course" in wholesale transactions
This definition applies to wholesale buyers, ensuring that purchases are made within the usual course of business.
"Buyer in Ordinary Course" refers to a purchaser who, in good faith, acquires goods from a wholesaler during the regular course of their business, without awareness of any competing claims.
Definition of "Buyer in Ordinary Course" for construction materials
This definition focuses on buyers in the construction industry, ensuring that construction supplies are acquired in the normal course of business.
"Buyer in Ordinary Course" means a person or entity that acquires construction materials in good faith from a supplier in the ordinary course of the supplier's business, without knowledge of any third-party rights.
Definition of "Buyer in Ordinary Course" for intellectual property assets
This definition addresses buyers of IP-related assets, protecting them in IP transactions.
"Buyer in Ordinary Course" refers to a person who purchases intellectual property assets, such as copyrights or patents, in good faith and through standard commercial practices, without knowledge of conflicting claims.
Definition of "Buyer in Ordinary Course" for franchise transactions
This definition applies to buyers in franchise agreements, ensuring protection for franchise purchasers.
"Buyer in Ordinary Course" means an individual or entity that acquires franchise rights or assets in good faith, during regular franchise transactions, without awareness of disputes or competing claims.
Definition of "Buyer in Ordinary Course" in financial instruments
This definition addresses buyers of financial products, ensuring that they are protected in regular financial transactions.
"Buyer in Ordinary Course" refers to a purchaser of financial instruments, such as bonds or securities, acting in good faith and in the ordinary course of the seller's business, without knowledge of third-party interests.
Definition of "Buyer in Ordinary Course" for artwork sales
This definition applies to buyers in the art market, ensuring that buyers are protected in transactions involving artwork.
"Buyer in Ordinary Course" means a person who purchases artwork in good faith from a gallery, dealer, or auction house, without knowledge of any competing ownership claims.
Definition of "Buyer in Ordinary Course" for bulk sales
This definition applies to buyers in bulk transactions, ensuring protection for those acquiring large quantities.
"Buyer in Ordinary Course" refers to a purchaser who acquires a bulk quantity of goods in good faith and during the ordinary course of the seller’s business, without knowledge of competing claims.
Definition of "Buyer in Ordinary Course" for technology products
This definition applies to buyers in tech product transactions, ensuring protection in regular tech sales.
"Buyer in Ordinary Course" means a purchaser who acquires technology products, such as hardware or software, in good faith from an authorized dealer or distributor, without awareness of conflicting claims.
Definition of "Buyer in Ordinary Course" for liquidation sales
This definition applies to buyers in liquidation contexts, ensuring protection for those purchasing during liquidation.
"Buyer in Ordinary Course" refers to a purchaser who acquires goods during a liquidation sale conducted by a seller in good faith and without knowledge of disputes over the goods.
Definition of "Buyer in Ordinary Course" in equipment leasing
This definition focuses on buyers in leasing arrangements, ensuring that leased equipment transactions follow the ordinary course of business.
"Buyer in Ordinary Course" means a purchaser who acquires equipment or leased property in good faith from a lessor in the ordinary course of their business, unaware of any competing claims.
Definition of "Buyer in Ordinary Course" for energy commodities
This definition applies to buyers in energy markets, ensuring they are protected in regular energy transactions.
"Buyer in Ordinary Course" refers to a person who purchases energy commodities, such as natural gas or electricity, in good faith from a supplier during regular market operations, without knowledge of conflicting claims.
Definition of "Buyer in Ordinary Course" for livestock sales
This definition applies to buyers in the agricultural industry, specifically in livestock transactions.
"Buyer in Ordinary Course" means a purchaser who acquires livestock in good faith from a seller engaged in the regular trade of livestock, without awareness of competing claims.
Definition of "Buyer in Ordinary Course" for business acquisitions
This definition addresses buyers in mergers and acquisitions, ensuring they are protected in business transactions.
"Buyer in Ordinary Course" refers to an entity that acquires a business or its assets in good faith and during regular commercial practices, without knowledge of conflicting interests or claims.
Definition of "Buyer in Ordinary Course" for consignment sales
This definition applies to buyers in consignment arrangements, where goods are sold by a third party.
"Buyer in Ordinary Course" means a purchaser who acquires consigned goods in good faith and during the regular course of the consignor’s business, without knowledge of any competing claims.
Definition of "Buyer in Ordinary Course" for personal property sales
This definition applies to buyers in personal property transactions, ensuring they are acting within the regular course of business.
"Buyer in Ordinary Course" refers to an individual or entity that purchases personal property, in good faith and during the ordinary course of the seller’s business, without awareness of third-party claims.
Definition of "Buyer in Ordinary Course" for e-commerce transactions
This definition focuses on online purchases, ensuring protection for buyers in digital marketplaces.
"Buyer in Ordinary Course" means a person who purchases goods through e-commerce platforms, acting in good faith and without knowledge of any competing claims on the items.
Definition of "Buyer in Ordinary Course" for fine jewelry
This definition focuses on buyers in the luxury market, ensuring protection for jewelry purchasers.
"Buyer in Ordinary Course" refers to a purchaser who acquires fine jewelry in good faith from an authorized retailer or jeweler in the ordinary course of their business, without awareness of conflicting claims.
Definition of "Buyer in Ordinary Course" for industrial equipment
This definition addresses buyers in industrial contexts, ensuring protection in equipment purchases.
"Buyer in Ordinary Course" means a person or entity purchasing industrial equipment in good faith from a supplier during regular business operations, without knowledge of any competing claims.
Definition of "Buyer in Ordinary Course" in government procurement
This definition focuses on buyers in public sector transactions, ensuring protection in government contract purchases.
"Buyer in Ordinary Course" refers to a purchaser who acquires goods or services in good faith during the ordinary course of a seller’s engagement in government procurement activities, without awareness of third-party claims.
Definition of "Buyer in Ordinary Course" for salvage goods
This definition applies to buyers of salvage or recovered goods, ensuring they are protected in such transactions.
"Buyer in Ordinary Course" means a purchaser who acquires salvage goods in good faith from an authorized seller, without awareness of conflicting claims or disputes.
Definition of "Buyer in Ordinary Course" for educational materials
This definition focuses on buyers in the education industry, ensuring protection in purchases of educational resources.
"Buyer in Ordinary Course" refers to a purchaser of educational materials, such as textbooks or software, in good faith and during regular business transactions, without knowledge of third-party claims.
Definition of "Buyer in Ordinary Course" for hospitality supplies
This definition applies to buyers in the hospitality industry, ensuring they are protected in the purchase of operational supplies.
"Buyer in Ordinary Course" means a purchaser who acquires supplies or equipment for hospitality operations in good faith from a regular supplier, without awareness of conflicting claims.
Definition of "Buyer in Ordinary Course" for renewable energy credits
This definition focuses on buyers in the sustainability market, ensuring protection for buyers of renewable energy assets.
"Buyer in Ordinary Course" refers to a purchaser who acquires renewable energy credits or carbon offsets in good faith and through regular market practices, without knowledge of third-party claims.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.