Bargain And Sale in Europe

Definition of Bargain And Sale

A contract for the sale of any estate or interest in land, or of chattels, followed by payment of the agreed price, commonly applied only to land. The Court of Chancery held that as soon as a bargain and sale of lanjl had been completed, the vendor held the land to the use or for the benefit of the purchaser. The Statute of Uses, 1536, executed the use in favour of the purchaser, that is to say, gave him the same estate or interest in the land as the vendor had before the bargain and sale. The effect of this was that land might be conveyed secretly. To prevent that result, the Statute of Enrolments, 1536, enacted that no bargain and sale of any freehold interest in lands should be effectual unless it were made by deed enrolled within six months. This method of conveyance was superseded by the lease and release (q.v-). Abolished by the Law of Property Act, 1925, s. 51

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Definition of Bargain And Sale is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.

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