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Simple English definitions for legal terms
affiliated purchaser
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A quick definition of affiliated purchaser:
An affiliated purchaser is someone who buys things like stocks or securities with the help of someone else, or who has control over the purchases made by someone else. A bona fide purchaser is someone who buys something without knowing that someone else might have a claim to it, and who pays for it in good faith. A purchaser for value is someone who pays money for something they buy. A pure easement is a type of right that allows someone to use someone else's property for a specific purpose, like a path or driveway.A more thorough explanation:
An affiliated purchaser is a person who is directly or indirectly connected to a distribution participant in the acquisition or distribution of securities. This can include an affiliate who controls the purchases of securities, a broker or dealer who is an affiliate, or an affiliate who regularly purchases securities for their own account or for others.
For example, if a company is distributing securities and one of its executives is buying those securities for their personal account, they would be considered an affiliated purchaser.
A bona fide purchaser is someone who buys something for value without knowing about any other claims to the property or any defects in the seller's title. They have a superior right to the property compared to the seller's creditors.
For example, if someone buys a car from a private seller and later finds out that the car was stolen, they may not be able to keep the car. However, if they bought the car from a dealership and had no reason to suspect that it was stolen, they would be considered a bona fide purchaser.
The pure comparative negligence doctrine is the principle that liability for negligence is apportioned based on the percentage of fault assigned to each party. A plaintiff's percentage of fault reduces the amount of recoverable damages but does not bar recovery.
For example, if a car accident occurs and the plaintiff is found to be 30% at fault, they would only be able to recover 70% of the damages from the other driver.
A pure obligation is an obligation that is not dependent on any condition or future event. It is an obligation that must be fulfilled regardless of any circumstances.
For example, if someone takes out a loan and agrees to pay it back with interest, that is a pure obligation. They must pay back the loan and interest regardless of any future events or circumstances.