Bona Fide Purchaser

Business, Legal & Accounting Glossary

Definition: Bona Fide Purchaser



What is the dictionary definition of Bona Fide Purchaser?

Dictionary Definition


n. commonly called BFP in legal and banking circles; a person who has purchased an asset (including a promissory note, bond or other negotiable instrument) for stated value, innocent of any fact which would cast doubt on the right of the seller to have sold it in good faith. This is vital if the true owner shows up to claim title, since the BFP will be able to keep the asset, and the real owner will have to look to the fraudulent seller for recompense.


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https://payrollheaven.com/define/bona-fide-purchaser/
Modern Language Association (MLA):
Bona Fide Purchaser. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 27, 2020 https://payrollheaven.com/define/bona-fide-purchaser/.
Chicago Manual of Style (CMS):
Bona Fide Purchaser. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bona-fide-purchaser/ (accessed: November 27, 2020).
American Psychological Association (APA):
Bona Fide Purchaser. PayrollHeaven.com. Retrieved November 27, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bona-fide-purchaser/

Definition Sources


Definitions for Bona Fide Purchaser are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.