Business, Legal & Accounting Glossary
n. slang for bona fide purchaser, which means someone who purchased something (e.g. a bond, a promissory note, or jewellery) with no reason to be suspicious that it was stolen, belonged to someone else, or was subject to another party’s claim. The BFP must have paid a full and fair price and have received the item in the normal course of business, otherwise, he/she might have some doubts (“wanna buy a watch, cheap?” from a character on a street corner).
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This glossary post was last updated: 26th April, 2020 | 7 Views.