A Bona Fide Purchaser (BFP) is an individual or entity that buys property in good faith and without knowledge of any existing claims or rights of others on the property. This legal concept is essential in real estate and commercial law to protect the rights of an innocent party acquiring a property.
A Holder in Due Course is a holder who has taken a negotiable instrument in good faith for value, without notice of any defect or claim to it. This legal concept is crucial in financial and property transactions to ensure the integrity and reliability of negotiable instruments.
An innocent purchaser is an individual or entity that buys an asset without knowledge of any defect in the title or property.
