purchase money

Money paid by the purchaser upon a purchase or in satisfaction of a debt to the seller or vendor created by the purchase. Austin v Underwood, 37 Ill 438.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • Purchase money — Purchase Pur chase (?; 48), n. [OE. purchds, F. pourchas eager pursuit. See {Purchase}, v. t.] 1. The act of seeking, getting, or obtaining anything. [Obs.] [1913 Webster] I ll . . . get meat to have thee, Or lose my life in the purchase. Beau. & …   The Collaborative International Dictionary of English

  • purchase money — index price Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • purchase money — noun : the consideration paid or to be paid by the purchaser of property * * * purchase money noun The money paid, or to be paid, for anything • • • Main Entry: ↑purchase …   Useful english dictionary

  • purchase-money — money used for buying, money used for making purchases …   English contemporary dictionary

  • purchase-money — …   Useful english dictionary

  • purchase money mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. purchase money mortgage …   Law dictionary

  • purchase-money security interest — (PMSI) USA A special type of security interest provided for under the Uniform Commercial Code to enable purchases of property (UCC § 9 324). A lender that advances money used by a buyer to make a purchase or a seller that e …   Law dictionary

  • purchase money security interest — see interest 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. purchase money security interest …   Law dictionary

  • Purchase Money Security Interest — (Purchase Money Security Interest or PMSI pronounced pimzee ) A security that a person takes in property, such as inventory for example, that secures payment with regard to those assets of all or part of its purchase price. (Dictionary of… …   Glossary of Bankruptcy

  • purchase-money obligation — USA The obligation secured by a purchase money security interest under the Uniform Commercial Code (UCC § 9 103(a)(2)). Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

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