Bargain

The word 'bargain,' in the statute, means the terms upon which the respective parties contract; and in the sale of goods, the terms of the bargain must be specified in the note or memorandum, and stated with reasonable certainty, so that they can be understood from the writing itself, without having recourse to parol proof; for, unless the essential terms of the sale can be ascertained from the writing itself, or by a reference contained in it to something else, the memorandum is not a compliance with the statute.

An agreement between parties concerning the sale of property; or a contract, by which one party binds himself to transfer the right to some property for a consideration, and the other party binds himself to receive the property and pay the consideration, an agreement or stipulation of any kind. 209 111. 477.

It signifies a contract or agreement between two parties, the one to sell goods or lands, and the other to buy them. Hunt v. Adams, 5 Mass. 358, 4 Am. Dec. 68.

A mutual undertaking, contract or agreement. A contract or agreement between two parties, the one to sell goods or lands, and the other to buy them. Hunt v. Adams, 5 Mass. 360, 4 Am. Dec. 68 ; Sage v. Wilcox, 6 Conn. 91; Bank v. Archer, 16 Miss. 192. "If the word 'agreement' imports a mutual act of two parties, surely the word 'bargain' is not less significative of the consent of two.

In a popular sense, the former word is frequently used as declaring the engagement of one only. A man may agree to pay money or to perform some other act, and the word is then used synonymously with 'promise' or 'engage.' But the word 'bargain' is seldom used, unless to express a mutual contract or undertaking." Packard v. Richardson. 17 Mass. 131, 9 Am. Dec. 123.

— Bargainee. The party to a bargain to whom the subject-matter of the bargain or thing bargained for is to go ; the grantee in a deed of bargain and sale.

— Bargainor. The party to a bargain who is to perform the contract by delivery of the subject-matter.

— Catchiug bargain. A bsrgnin by which money is loaned, at an extortionate or extravagant rate, to an heir or any one who has an estate in reversion er expectancy, to be repaid On the vesting of his interest; or a similar unconscionable bargain with such person for the purchase outright of his expectancy.

A mutual undertaking; a contract between persons, one to buy, and the other to sell, goods or lands. Bargain and sale: as applied to realty, a contract for a conveyance of land for a valuable consideration which originally passed nothing but a use, the seisin for want of livery remaining in the bargainor, but which under the statute of uses transfers the possession and thus makes a complete conveyanca As applied to personalty, an agreement to sell, followed and completed by a sale, the bargain being the arrangement of terms, and the sale such a completion of the transaction as passes the property, v. Catching a bargain; Contract; Unconscionable.

* 1, n. A mutual contract or agreement between two parties, the one to sell goods or lands, and the other to buy them.5 Any mutual undertaking. " Bargain " more prominently, perhaps, than "agreement," brings into view the mutuality of a contract." 3, V. To transfer in pursuance of a bargain; as, "to grant, bargain, and sell." Bargainer. He who makes a bargain. Bargainee. He who is to receive property under the contract of a bargain; the grantee in a deed of bargain and sale. See Earnest; Grant, 3: Offer, 1. > See 3 El. Com. 26; The Nation, Deo. 20, 1883, No. 964. 2 Commonwealth v. Rogers, 135 Mass. 639 (1883), Colburn, J. s See 3 Bl. Com. 305; 1 Flip. 4; 60 Md. 125; 1 Greg. 48.. « F. bargaigner, to chaffer: L. L. barca, a bark for merchandise. » Hunt V. Adams, 5 Mass. "360 (1809), Parsons, C. J.; Bargain and sale. A contract whereby the bargainer, for some pecuniary consideration, bargains and sells, that is, contracts to convey, land to the bargainee.^ Also used of transfers of personalty. A contract to convey, for valuable consideration, by any words sufficient to raise a use in the bargainee.^ At common law, land can not pass w Itlio Tit livery, q. V. In this contract the bargain vests the use, and the Statute of Uses then vests, that is, completes, the possession.^ The force of that statute is exhausted in transferring the legal title in fee-simple to the bargainee.^ See Use, 3. In a "bargain and sale" of personalty the thing becomes the buyer's the moment the contract is made, whether delivered or not. In an "executory agreement," the thing remains the property of the vendor till the contract is executed.* Catching a bargain. An agreement to purchase an expectant estate at an inadequate price. Applied to heirs dealing with their expectancies, and to reversioners and remainder-men dealing with property already vested in them, but of which the enjoyment is future, and is, therefore, apt to be underestimated by the giddy, the necessitous, the improvident, and the yoimg.^ In most cases have concurred deceit and illusion as to other persons. The father, ancestor, or other relative, from whom was the expectation of the estate, has been kept in the dark. The expectant has been kept from disclosing his circumstances, and resorting to them for advice and relief. This misleads -the ancestor, who has been induced to leave his estate, not to his heir or family, but to artful persons who have divided the spoil beforehand.^ To maintain parental and quasi parental authority, to prevent the waste of family estates, and to protect the heedless and necessitous froni the designs of rapacity, relief is afforded in equity. The purchaser must establish not merely that there is no fraud, but "make good the bargain," that is, show that a fair and adequate {g. v.) consideration has been paid.' Compare UTicon^cionable Bargain. Strike a bargain. To shake hands in attestation of an agreement; also, to come to an agreement. Fi'om the old custom of shaking hands as necessary to bind a bargain." 1 8 Bl. Com. 338; Slifer v. Beates, 9 S. & B. HTi (1832). = [4 Kent, 495. 8 Croxall V. Shererd, 5 Wall. 882 (1866), cases. * Benj. Sales, §§ 308, 310; Smith, Contr. 331; Smith v. Surraan, 9 B. & C. S68 (1829). 0 1 Story, Eq. § 337. ' Chesterfield v. Janssen, 2 Ves. 167, 155 (1750), Hardwicke, Ld. C. Time bargain. A contract for the sale of stocks, provisions, or other commodity or article of merchandise, at a certain price on a future day, the vendor himself intending to purchase the thing, which is the subject of the proposed sale, before the day for the delivery has arrived. See further Wager, 2. Unconscionable bargain. Such bargain as no man in his senses and not under delusion would make, on the one hand, and as no honest and fair man would accept, on the other, — being an inequitable and unconscientious bargain. 1 A bargain of so unconscionable a nature and of such gross inequality as naturally leads to the presumption of fraud, imposition, or undue influence.^ A court of equity is not bound to shut its eyes to the evident character of a transaction where its aid has been sought to carry into effect an unconscionable bargain, but it will leave the party to his remedy at law; as, in salvage cases. ^