Purchase

The word "purchase" is used in law in contradistinction to "descent," and means any other mode of acquiring real property than by the common course of inheritance. But it is also much used in its more restricted vernacular sense, (that of buying for a sum of money,) especially in modern law literature; and this is universally its application to the case of chattels. See Stamm v. Bostwick, 122 N. Y. 48, 25 N. E. 233, 9 L. It. A. 597; Hall v. Hall, 81 N. Y. 134; Berger v. United States Steel Corp , 63 N. J. Eq. 809, 53 Atl, 68; Falley v. Grinling, 128 Ind. 110, 26 N. E. 794; Chambers v. St. Louis, 29 Mo. 574.

— Purchase money. The consideration in money paid or agreed to be paid by the buyer to the seller of property, particularly of land. Purcbase money means money stipulated to be paid by a purchaser to his vendor, and does not include money the purchaser may have borrowed to complete his purchase. Purchase money, as between vendor and vendee only, is contemplated ; as between purchaser and lender, the money is "borrowed money." Heuisler v. Nick-um, 38 Md. 270. But see Houlehan v. Rassler, 73 Wis. 557, 41 N. W. 720.

— Purchase-money mortgage. See Mortgage.

— Quasi purchase. In the civil law. A purchase of property not founded on the actual agreement of the parties, but on conduct of the owner which is inconsistent with any other hypothesis than that he intended a sale.

— Words of pnrchase. Words ,of purchase are words which denote the person who is to take the estate. Thus, if I grant land to A. for twenty-one years, and after the determination of that term to A.'s heirs, the word "heirs" does not denote the duration of A.'s estate, but the person who is to take the remainder on the expiration of the term, and is therefore calied a "word of purchase." Williams, Real Prop.; Fearne, Rem. 76, et seq.